Things to look out for when doing a bank reconciliation

The company’s cash book may require the following adjustments:

  • direct debit payments and standing orders directly to or from the bank account may not have been entered into the cash book
  • bank interest and charges may not have been entered into the cash book.

Items which may have been included in the cash book but which may not yet have been included in a bank statement:

  • cheques drawn (paid) by the business may not have cleared the bank account
  • cheques deposited into the bank account may not have cleared.
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