How to Properly Perform Bank Reconciliations
1. Begin with recording the balance from your books and the bank balance that is shown
on the monthly statement you receive. ( Books: $5,385..95 , Bank: $5,535.80 )
2. On the bank side, subtract any outstanding checks that you see recorded on your
books that have not yet been received by the bank. ( $267.08 )
3. Also on the bank side of your paper, you then need to add into that balance any
deposits that are showing on your books, but not on your bank statement.
4. Now on your books side subtract any kind of bank fee that is being charged to you.
)(don’t forget to record the bank fee in your books)**
5. You should then have an adjusted bank balance as well as an adjusted
book balance, they should now equal. ( Book: $5,347.30 , Bank: $5,347.30 )
General Fund: $3,694.33
Less: Bank Charges not on books
Adjusted Book Balance: