Timing Differneces In The Bank Reconciliation Statements Flashcards
1
Q
What are the two types of timing differences
A
Unpresented cheques and out standing lodgements
2
Q
What is an unpresented cheque?
A
Cheques drawn, but not recorded in the bank statement due to timing differences
3
Q
What is an outstanding lodgement
A
Amounts paid into the bank but not yet recorded on the bank statement
4
Q
A
