Bank reconciliation is a term that is used in bookkeeping. A bank reconciliation is referred to as the method of comparing the accounts in the accounting records of an institution for a cash account with the related data on a bank statement. The statistical data for this is provided by the bank itself. Bank Reconciliation Statement Templates help to make these reconciliation statements.
4 Steps on How to Do a Bank Reconciliation
Step 1: Do a Comparison of the Deposits
The first step to doing a bank reconciliation is to compare the deposits. In other words, you need to do a comparison of the deposits that are in the business records with that of the ones in the bank. Compare the amount of each transaction reported on the debit side of the cashbook’s bank column with the bank statement‘s profit side and the bank column’s benefit side with the bank statement’s debit side.
Step 2: Alter the Bank Statements as Required
The next step is to make changes to the bank statements. For this, you need to change the amount to the right balance in the bank statements. This step involves removing transit withdrawals, subtracting pending checks and adding or deducting bank failures. These involve payments that are recorded by the organization but not by the bank.
Step 3: Adjust the Cash Account
Once you have made the required changes to the bank statements, you need to adjust the cash account. Three elements come into play here: NSF checks, bank charges and errors in accounting. Bank charges refer to service charges incurred for the handling of the account activity of the company by the transaction. NSF is a check issued by the bank for insufficient funds. Errors refer to errors that are incurred due to the wrong amount being entered or omitted.
Step 4: Compare the Balances
When you have adjusted all the required balances, your task is to compare them. The calculated balances should be the same by changing the balance according to the account. In the case that the balances do not match, you would have to repeat the entire process again. Once you get the balances to be equal, you can proceed to prepare the required journals for it.
18+ Bank Reconciliation Templates in Google Docs | Google Sheets | Excel | Word | Numbers | Pages | PDF
1. Bank Reconciliation Template
Bank reconciliation refers to the process of balancing the accounts that are maintained by the bank itself and the accounts that are maintained by the organization under question. If you want to make this for your organization too, then you need to download this reconciliation sample bank statement template.
2. Bank Reconciliation Worksheet Template
A bank reconciliation statement shows if the accounts that are received and recorded by both the bank and the organization are equal or not. You can make this statement quite easily if you just make use of this reconciliation template. You can download this template for use in both Word and Pages formats.
3. Bank Reconciliation Template in PDF
The term reconciliation in the field of accounting and bookkeeping refers to balancing certain accounts. Accordingly, a bank reconciliation statement is made to display accounting details and make sure that the statistical data match for both the accounts. You can make this statement for your needs with the help of this chase bank statement template.
4. Format of Bank Reconciliation Template
Say you are stuck in a situation where you have been tasked with the making of the bank reconciliation statement for your organization. However, you do not know the format for it. So what do you do? No need to worry here, we are here to help you with it. This reconciliation template is being provided to help with this exact task.
5. Sample Bank Reconciliation Template
Knowing how to make a bank reconciliation statement is very important no matter what kind of organization you are working in. However, we understand that everyone is not adept at this task. This is why we are giving you access to this sample reconciliation statement template. This template will help you make the statement with perfect ease.
6. Bank Reconciliation Statement Template
A bank reconciliation is a process of balancing two accounts, one being that of the account belonging to the organization and the other of the bank itself. Do you want to make this financial statement for your organization too? Then you need to download this reconciliation statement template that has been created to help you make such statements.
7. Formal Bank Reconciliation Template
One of the most important things that you need to keep in mind while making a bank reconciliation statement is to make it using a formal tone. Are you having trouble with the making of this statement for your organization? Then you can make use of this formal financial statement template. This template is available for download in PDF format.
8. Bank Reconciliation Example
Are you a rookie at making bank reconciliation statements but have been tasked with the making of it anyway? Then we would suggest that you take a look at this reconciliation example template before you can start work on yours. This template comes with an example of a similar statement that you can use as a reference guide for yours.
9. Example of Bank Reconciliation Statement
A bank reconciliation statement is a document that explains the difference between the bank balance shown in the Example Templae of the company on a specified date and the equivalent sum shown in the accounting records of the entity. If you want to make this statement for your requirements, then this reconciliation statement is just for you. You can also use this file to make a business profit and loss statement.
10. Sample Bank Reconciliation Template in XLS
It is very necessary to know how to make reconciliation statements. However, no one has the time to sit down and make one from scratch. And that is exactly why we are here with this blank statement format template. With this template, you can create such a statement quite easily as well as efficiently.
11. Bank Reconciliation Worksheet Template in XLS
Bank reconciliation is achieved by comparing the percentage of money on the balance sheet to the sum on its bank statement. Making this statement is not easy. But what if we could make the task easy for you? Yes, you heard that right! This statement template has been designed to help you with this exact task. This file can also be used to make a cash flow statement.
12. Bank Reconciliation Template in XLS
Are you looking for a tool to help you make the bank reconciliation statement for your organization? Then you need to stop searching right now as you are already in the right place! All you need to do is download this bank reconciliation template and you are good to go. This template provides an example of a similar statement that is very simple and easy to use.
13. Bank Reconciliation Form Template
A form is developed to help make a certain work easier than before. Accordingly, a reconciliation form helps in the making of the bank reconciliation statement. And this Bank Reconciliation Form Template is here to help you in the making of such a statement for your organization. This template is available to be downloaded in PDF format.
14. Bank Reconciliation Format
Imagine: you have been tasked with the making of the bank reconciliation statement for your organization. But you are not aware of the format for making it. Stuck in this situation? Don’t worry, we can get you out. All you have to do is download this bank statement template and you are good to go. The file is compatible with all kinds of operating systems.
15. Bank Reconciliation Pro Forma Template
With this Bank Reconciliation Pro Forma Template, you can get your hands on a file containing a sample reconciliation bank reference statement that can be easily used as a reference guide. The template comes with original and suggestive headings and content that have been written by professional writers.