Get the free Checking Account Reconciliation Form - gcfcuorg

Checking Account Reconciliation Form OUTSTANDING CHECKS Check Number Date Amount $ Ending balance shown on statement: $ Add: Deposits not credited on statement: $ $ $ $ Subtotal: $ Subtract: Total

How to fill out checking account reconciliation form

How to fill out a checking account reconciliation form:

1. Start by gathering all your bank statements, both from your checking account and any linked accounts, like savings or credit card accounts.
2. Open the reconciliation form provided by your bank or financial institution. This form will typically have spaces to record your account information, starting balance, ending balance, and any outstanding transactions.
3. Enter your account information at the top of the form, including your account number, account name, and statement date.
4. Locate the starting balance on your bank statement and enter it in the designated space on the reconciliation form.
5. Go through each transaction on your bank statement, comparing it to your own records, such as checkbook or online banking statements. Mark each transaction as cleared or uncleared based on its status.
6. Any transactions that haven't cleared yet should be listed separately as outstanding transactions. This can include checks that are still pending, deposits that haven't been credited, or any other transaction that hasn't been processed by the bank.
7. As you clear each transaction, record the date, description, and amount on the reconciliation form. Make sure to double-check for any discrepancies between your records and the bank statement.
8. Add up the total of the cleared transactions and enter it on the reconciliation form as the total cleared amount.
9. Subtract the total cleared amount from the starting balance to calculate the total outstanding amount.
10. Next, bring in any additional transactions that may not be included on your bank statement, such as service fees, interest earned, or other adjustments. Record these transactions on the reconciliation form accordingly.
11. Total all the outstanding transactions, including the outstanding transactions listed separately and any additional transactions, to get the total outstanding amount.
12. Finally, add the total cleared amount and the total outstanding amount to calculate the ending balance. Enter this amount on the reconciliation form.

Who needs a checking account reconciliation form:

1. Individuals or businesses that have checking accounts with financial institutions.
2. Those who want to keep track of their transactions and ensure accuracy in their account balances.
3. Business owners or accountants who need to reconcile their checking accounts for financial reporting and auditing purposes.
4. People who want to identify any discrepancies, unauthorized transactions, or errors in their account statements.
5. Individuals or businesses who need to monitor their cash flow, identify overdrafts, or ensure all transactions have been properly recorded.

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