Get the free templates.office.comen-usMonthly-bankMonthly bank reconciliation

BANK RECONCILIATIONAFSCME SECRETARYTREASURER WORKBOOK 01/22 TAB 11 Page 1AFSCME SECRETARYTREASURER WORKBOOK 01/22 TAB 11 Page 2BANK RECONCILIATION INSTRUCTIONS Immediately after receiving each month

How to fill out templatesofficecomen-usmonthly-bankmonthly bank reconciliation

How to fill out templatesofficecomen-usmonthly-bankmonthly bank reconciliation

1. Log in to Templates.office.com and navigate to the Monthly Bank Reconciliation template under the 'Finance' category.
2. Click on the 'Download' button to save the template to your computer.
3. Open the downloaded template using Microsoft Excel or any other compatible spreadsheet software.
4. Start by entering the name of the bank in the designated field at the top of the template.
5. Fill in the beginning balance, ending balance, and statement date in the respective fields.
6. Enter all the transactions listed on your bank statement one by one in the 'Statement' column.
7. Match each transaction with the corresponding entry in your records and indicate the match by marking the 'Match' checkbox.
8. If there are any discrepancies, enter the details in the 'Discrepancy' column and investigate the cause.
9. Total the reconciling items, such as outstanding checks or deposits, and enter the totals in the 'Reconciling Items' section.
10. Calculate the adjusted bank balance by subtracting the total reconciling items from the ending balance.
11. Compare the adjusted bank balance with your records to ensure they match.
12. If the balances match, the reconciliation is complete. If not, continue investigating and making adjustments until they do.
13. Save the completed bank reconciliation form for future reference or printing.

Who needs templatesofficecomen-usmonthly-bankmonthly bank reconciliation?

1. Businesses of all sizes that have bank accounts.
2. Accountants or financial professionals responsible for reconciling bank statements.
3. Individuals managing personal finances and wanting to keep track of their bank transactions.
4. Anyone who wants to ensure accuracy and identify any discrepancies between their records and bank statements.

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What is templatesofficecomen-usmonthly-bankmonthly bank reconciliation?

Monthly bank reconciliation is the process of comparing the balances in an organization's accounting records with the balances shown on its bank statements to ensure accuracy.

Who is required to file templatesofficecomen-usmonthly-bankmonthly bank reconciliation?

All businesses and organizations that have bank accounts are required to perform monthly bank reconciliations.

How to fill out templatesofficecomen-usmonthly-bankmonthly bank reconciliation?

To fill out monthly bank reconciliation, start by comparing the ending balance on the bank statement with the balance in the organization's accounting records. Then, adjust for any outstanding checks or deposits.

What is the purpose of templatesofficecomen-usmonthly-bankmonthly bank reconciliation?

The purpose of monthly bank reconciliation is to ensure that the organization's accounting records are accurate and to identify any discrepancies or errors that may exist.

What information must be reported on templatesofficecomen-usmonthly-bankmonthly bank reconciliation?

Information such as bank statement ending balance, organization's accounting records balance, outstanding checks, outstanding deposits, and any bank fees or interest earned must be reported on monthly bank reconciliation.