Checklist for Doing a Bank Reconciliation

Steps to follow for compiling a Bank Reconciliation:

  • Write up your cashbook so it is as up to date as possible.

  • Check off from your cashbook against your bank statement all the checks you have written and the deposits you have received.

  • Check off against the bank statement all the deposits you have made and all the payments of checks you have paid out.

  • After that is done, prepare a list of all deposits in transit. These will be the deposits not yet credited.

  • Prepare also a list of all the checks that you have sent out but which do not appear yet in the bank statement. These will be your unpresented checks.

  • Record any bank charges or credits that have come through the bank statement, but are not yet entered into your cashbook. They include bank fees etc

  • Complete your cashbook to arrive at your end cash balance and then compare that balance against the bank statement.

  • Finally, by taking into account the bank statement balance and providing for deposits not credited, and unpresented checks, you should be able to reconcile the differences and arrive at the same balance that the bank statement has.

Return to 'Checklist' menu


Back to Menu