How Do You Prepare A Company Bank Reconciliation?
The monthly bank reconciliation for a company is one of those tedious jobs that must be done every month. Timing differences occur throughout the month when transactions are recorded by the company and by the bank. This causes the difference in the balances recorded by the bank and the company and needs to be reconciled. While it isn’t difficult, it can be time consuming if errors were made. Not entering bank fees, deposits, checks written or interest can cause errors. Errors can also be made when recording the amounts of any of these into the check register. Occasionally, the bank will even make errors that affect the balance of your account. However, don’t let this deter you. Read on to learn how to prepare a company bank reconciliation. Step 1 Open your bank statement and company check register beside each other. You may need to clear your desk to have adequate working area. Have a sharpened pencil ready to jot notes and to use to place a tic beside items you have recorded and verif
