How to do a Bank Reconciliation the easiest way - Financial and Intermediate Accounting
Remember the following when doing a bank reconciliation:
1. Checks shown on the bank's statement are not in chronological order
2. Don't worry about "VOID" checks
3. Cash cannot be withdrawn from your account without you having a copy of the check.
4. However, cash can be deposited into your account without you knowing. This will show on the bank's statement for you to reconcile.
5. The company is more likely to make an error in recording a transaction than the bank.
6. Only journalize adjustments made in the company's books.
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