Bank reconciliation
This query is : Resolved
25 March 2011
I had done Bank reconciliation in that i find that some of the cheques which are not deposited by the parties ?
what to do for that
should i credit that amt?
or
delete the passed entries????
e.g
Mr. X a/c....Dr 10000
To Bank Cr 10000
this cheque is not cleared.. may be not deposited by party
should i delete it????
what to do for that
should i credit that amt?
or
delete the passed entries????
e.g
Mr. X a/c....Dr 10000
To Bank Cr 10000
this cheque is not cleared.. may be not deposited by party
should i delete it????
25 March 2011
No need to do any things.
only bank reco for your Reconciliation.
only bank reco for your Reconciliation.
28 March 2011
But then the Bank balance appearing in balance sheet will not match with bank statement???? then what should i do???
28 March 2011
please reply me
Guest
Guest
(Expert)
28 March 2011
If your Books bank balance doesnt match with your bank balance you need to find out the entries in you books which has no effect in bank or vice versa and do reverse entries for the same..
Message likes :
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28 March 2011
For diff produce Bank reco to your Auditor. no need to reversed. it is general activity. last year cheque to be clear in this year. see example from last year bank reco.
Guest
Guest
(Expert)
28 March 2011
Some cheques deposited in at last days of March should not be reversed.. which are expected to clear in April... Apart from that other enteries have be reversed..
It is adviced to have a pratice of reconciling Bank Statement from time to time rather doing it at the end of FY.
It is adviced to have a pratice of reconciling Bank Statement from time to time rather doing it at the end of FY.
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