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H 101 Bank Reconciliation 1. Lisa Beja is unable to reconcile the bank balance at January 31. Lisa s reconciliation is as follows: Cash balance per bank Add: NSF check Less: Bank service charge Adjusted
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Bank reconciliation is the process of comparing the balances in a company's accounting records to the corresponding information on a bank statement.
Any business or organization that has a financial account with a bank is required to perform bank reconciliation.
To fill out bank reconciliation, you need to compare the transactions recorded in your accounting records with the transactions listed on your bank statement, and make necessary adjustments for any discrepancies.
The purpose of bank reconciliation is to ensure that the amounts recorded in an organization's accounting records are accurate and complete, and to identify any errors or discrepancies that need to be rectified.
The information reported on bank reconciliation includes the ending balance in the organization's accounting records, the ending balance on the bank statement, any outstanding deposits or withdrawals, and any adjustments made to reconcile the two balances.
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