BANK RECONCILIATION Flashcards
is a report that is prepared for the purpose of bringing the balances of cash and per bank statement into agreement
BANK RECONCILIATION STATEMENT
it is the cash balance that recorded of company
BALANCE PER BOOK, END
its the cash balance that recorder on the bank statement as of the end of the current month
BALANCE PER BANK,END
are additions ( bank credits ) made by the bank to the depositors bank account but not yet recorded by the depositor
CREDIT MEMOS
collection made by the bank on behalf of the depositor
CREDIT MEMOS
interest income earned by the deposit
CREDIT MEMOS
proceeds from loan directly credited or added by the bank to the depositors account
CREDIT MEMOS
this are deductions ( bank debits ) made by the bank to the depositors bank account but not yet recorded by the depositor
DEBIT MEMOS
bank service charges
DEBIT MEMOS
its is a error, committed by the depositor
BOOK ERRORS
it is deposit, already made but not yet received by the bank, or received by the bank but not yet credited to the depositors bank account
DEPOSIT IN TRANSITS ( DIT )
its oftern occur when deposits are mailed to the bank, placed in an overnight depository, made through check and check has not yet cleared, or made after the banks cut-off
DEPOSITS IN TRANSITS
its is a checks drawn and released to PAYEES but are not yet ENCASHED with the bank
OUTSTANDING CHECKS
exclude certified checks and stale checks
OUTSTANDING CHECKS
its is a error committed by the bank
BANK ERRORS
