Accounting #4 Bank Reconciliation

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Presentation transcript:

Accounting #4 Bank Reconciliation

Accounting Assignment #4 Reconciling a checking account. Reconcile: “The act of confirming that the balance in one's checkbook matches the corresponding bank statement.” (www.investorwords.com) On the class web page there is a bank statement and a check book to reconcile

Bank Statement Can you find the current balance for this account? Summary for the month Withdrawals: Money taken out of your account. Current Balance Deposits: Money added to your account

Checking Account Deposit amounts Withdrawal amounts Check Number / ATM / Check Card +2 point bonus to convert this sheet to an excel spreadsheet. Keep you eye open for deposits that the bank has not yet received. How do you find checks that have not cleared?

2 points E.C. Create one in Excel that will do the math for you!!! Bank Reconciliation New Balance from Bank STATEMENT……$________ ADD deposits in transit (Not at the bank)… $________ SUBTOTAL…………………………………...$________ SUBTRACT outstanding Checks………………………………………….$________ Check # Amount ____ $ ________ Calculated Ending Balance…………………..$_______ The balance should match the balance in the check book!! You need to create this document in Word to complete this assignment, OR for 2 points E.C. Create one in Excel that will do the math for you!!!