Repeatable task list for bank reconciling accounts
Preparation
- Access the bank's online portal or physical documents.
- Select the correct statement period.
- Download or print the statement for future reference.
- Check for any fees or unusual transactions listed.
- Open the accounting software used.
- Navigate to the general ledger section.
- Locate the specific bank account.
- Export or print the ledger for the reconciliation period.
- Review all transactions within the specified period.
- Cross-check against the bank statement for accuracy.
- Look for any missing entries or discrepancies.
- Update the accounting system with any unrecorded transactions.
- Identify all deposits listed in the bank statement.
- Match each deposit against the general ledger.
- Ensure dates and amounts correspond correctly.
- Investigate any deposits that appear unmatched.
Comparison
Adjustments
Documentation
- List each discrepancy with a brief description.
- Note the date and amount of each discrepancy.
- Identify the source of the discrepancy.
- Include any relevant transaction numbers or references.
- Attach supporting documents if available.
- Create a specific folder named 'Bank Reconciliation'.
- Save the bank statement as a PDF or image file.
- Label the file with the date and account name.
- Store the reconciliation report in the same folder.
- Ensure file permissions are set for security.
- Record the reason for each adjustment made.
- Include the date and amount of the adjustment.
- Link adjustments to specific discrepancies documented earlier.
- Use a standardized format for consistency.
- Store adjustments with supporting documentation.
Use in Manifestly