Reconciliation Accounting Statement

A reconciliation accounting statement is an official accounting report, comparing two sets of records, generally balance of two accounts, to ensure that they are in agreement. It is usually done by a bank. It is done to avoid any sort of confusion and discrepancy regarding data entry in bank’s system and individual’s system.

Sample Reconciliation Accounting Statement:

A bank reconciliation account statement must contain the correct date, the correct bank balance as per cash book, the adjusted balances, the amount credited and debited, the service charges charged by the bank and all other related information. At the end the two accounts need to be verified if the amount is matching.

Bank Reconciliation as on March 2011.

Balance per bank statement on March 31, 2011. $ 4000 Ending balance
Adjustments: 0  
Cash deposit +1500  
Amount of Cheque written by bank -3000  
Bank error 0  
Adjusted bank balance $ 2500  
Balance per books on March 31, 2011. $ 900 Company’s cash account at the end of march
Adjustments:    
Service charge for maintaining the checking account -50  
Checks and fees -30 Returned checks and bank fee
Cheque production charges -70 Charges for cheque printing
Amount of interest earned +10  
Note deposit in bank +1730 Cash receipts deposited in bank
Error in account +10  
Adjusted bank balance $ 2500  

_______________________

(Signature of the individual)

_______________________

(Signature of bank)

The above statement shows how the amount of the two accounts is matching and thereby no discrepancies or error exists between the two accounts. If the two amounts are not match, then the process must be repeated.

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