reconciliation procedures Flashcards
1
Q
deposits in transit
A
add to bank
2
Q
outstanding checks
A
subtract from bank
3
Q
bank errors
A
add or subtract from bank
4
Q
EFT collections and other deposits
A
add to books
5
Q
NSF checks
A
subtract from books
6
Q
service charges and other payments
A
subtract from books
7
Q
company errors
A
add or subtract from books
ex. if company writes check for too much, add difference between incorrect and correct amounts to books
