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AIMS UNM Bank Account Reconciliation Report 2/6/2015 11:36 AM Accounting Cycle: FY2015; Bank: NM Bank & Trust State Fund Account; Bank Account: XXXX751 Operating Account; Statement Date: 01/31/2015

How to fill out bank account reconciliation report

How to fill out a bank account reconciliation report:

1. Gather all relevant financial documents, including bank statements, check registers, and any other records of transactions.
2. Compare the transactions recorded in the check register to the ones listed on the bank statement. Make sure they match up and mark off any transactions that appear on both.
3. Look for any discrepancies between the check register and the bank statement. This could include missing transactions, incorrect amounts, or errors in recording.
4. Investigate the discrepancies by contacting the bank or reviewing any supporting documentation. Make any necessary adjustments or corrections to ensure the records are accurate.
5. Reconcile any outstanding checks or deposits. This involves determining if any outstanding checks have cleared or if any outstanding deposits have been credited to the account.
6. Calculate the ending balances for both the check register and the bank statement after all adjustments are made.
7. Prepare the bank account reconciliation report by summarizing the reconciled information, including the beginning and ending balances for both the check register and the bank statement.
8. Include any notes or explanations for any unresolved discrepancies or outstanding items.
9. Review the report for accuracy and completeness before finalizing it.

Who needs a bank account reconciliation report:

1. Businesses: Companies of all sizes and industries typically need to reconcile their bank accounts to ensure the accuracy of their financial records and to identify any discrepancies or fraudulent activity.
2. Non-profit organizations: Non-profits also need to reconcile their bank accounts to track their financial transactions, monitor cash flow, and ensure financial integrity.
3. Individuals: Some individuals, especially those with complex financial situations or multiple accounts, may also find it helpful to reconcile their bank accounts to stay organized and keep track of their finances accurately.

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What is bank account reconciliation report?

Bank account reconciliation report is a document that compares the financial records of a company with the bank statement to ensure they match.

Who is required to file bank account reconciliation report?

The finance department or accounting department of a company is typically required to file the bank account reconciliation report.

How to fill out bank account reconciliation report?

To fill out the bank account reconciliation report, gather the company's financial records and compare them to the bank statement. Make sure all transactions are accounted for and investigate any discrepancies.

What is the purpose of bank account reconciliation report?

The purpose of the bank account reconciliation report is to ensure the accuracy of the company's financial records and to detect any discrepancies or errors.

What information must be reported on bank account reconciliation report?

The bank account reconciliation report must include the beginning and ending balance, all transactions for the period, any outstanding checks or deposits, and any adjustments made.

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