Bank Reconciliation Report

  • Riaz Ahmed


Even after reconciling your ledger entries with those appearing in the bank statement, there might still be some unsettled transactions on both sides. For example, say a check was issued to a vendor that doesn’t appear in the bank statement. Although it was recorded in the application, for some reason it was not presented to the bank in due course. Similarly, say the bank statement reports a credit amount deposited directly by one of your customers that you were not aware of. In the latter case, accountants prepare a receipt voucher to incorporate and reconcile the credit. For the former case, you have to wait until the check appears in a subsequent bank statement. After completing the reconciliation process, the application produces a report that shows the current ledger balance and a calculated bank statement balance, with some unsettled transactions (such as unpresented checks). The two balances should match, if there are no more outstanding figures on either side.

Copyright information

© Riaz Ahmed 2019

Authors and Affiliations

  • Riaz Ahmed
    • 1
  1. 1.KarachiPakistan

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