Some organizations have a single account for all project funds how do we carry out bank reconciliation?
Bank reconciliation statement is done for a given bank account, but a separate fund reconciliation statement must be prepared if different donor funds are kept in one bank account. In other words sources and application or use of funds statement must be prepared monthly for each donor funds. It is because of this difficulty that ASARECA insists the ASARECA funds should be kept in a separate bank account as practically as possible.
