Bank Reconciliation Statement

Causes of Disagreement between Depositors Book and Bank Statement

The reasons for the difference between the balance on the bank statement and the balance on the books consist of outstanding checks, deposits in transit, bank service charges, check printing charges, errors on the books, errors by the bank, electronic charges on the bank statement not yet recorded in the books, and electronic deposits on the bank statement that are not yet recorded in the books.

Bank Reconciliation Statement (Definition, Types, Template)

The bank reconciliation Statement shows differences between the balance shown in the bank statement and the balance shown in the depositor’s accounting record. A bank reconciliation statement is prepared for accounting purposes as it indicates the differences between the bank statement balance and the balance in the depositor’s accounting records. The statement that the depositor…