To reconcile my bank statement: Do I include debit/credit corrections?
September 3, 2009 - 1:03 am
For ex: on my checkbook I added/deleted the same item. Do I list the amounts under outstanding checks or outstanding deposits to balance my bank statement? Or, since they have been corrected in my checkbook, they must not be included to reconcile my bank statement?
You should include all debits and credits when reconciling. I recommend using the reconciliation worksheet that’s printed on the back of bank statements.
Reconciling is checking your register against line items on the bank statement. Items not reconciled should be resolved, checking math accuracy and errors in your and the banks postings.
September 3rd, 2009 at 6:34 am
You should include all debits and credits when reconciling. I recommend using the reconciliation worksheet that’s printed on the back of bank statements.
Reconciling is checking your register against line items on the bank statement. Items not reconciled should be resolved, checking math accuracy and errors in your and the banks postings.
References :
September 3rd, 2009 at 6:48 am
YES. FOLLOW the format on the back of the statement. Make sure that the entries match. The items that are on the statement need to match to the checkbook. If they don’t, make it happen.
References :
I am an accountant who does this on a monthly basis