bank reco

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irfan (Querist)
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26 November 2010 how to make bank reco

plz explain in detail
and in easy way
and in a practical way

best regards
irfan(fresher accountant)

CA.ViVeK M ACA

CA.ViVeK M ACA (Expert)
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26 November 2010 There are mainly the cheque which we had issued and had made the entry in our bank book but the same was not yet presented by the person to the bank. We can track the same with the help of bank statement.

There are some other case Income may be affeted in the Bank Book and entry is not made in our Books of Accts

Reconciliation is a process of Tallying the books of Account s with that of Bank

Ram Avtar Singh

Ram Avtar Singh (Expert)
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26 November 2010 The difference between the two records on a given date may arise because of the following:
Cheques drawn but not yet presented to the bank.
Cheques received but not yet deposited in the bank.
Interest credited and not recorded in the organization's books.
Bank charges debited but not recorded in the organization's books.

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