Bank Reconciliation Checklist
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1️⃣ Preliminary Steps
→ Assemble all necessary documents and create a dedicated workspace to prevent errors.
→ Don't forget to back up your data!
2️⃣ Match Transactions
→ Ensure every deposit and withdrawal matches your cash book entries to the bank statement.
3️⃣ Address Discrepancies
→ Scrutinize outstanding checks and deposits in transit, rectifying any bank or book errors.
4️⃣ Account for Bank Charges or Interest
→ Record any fees and interest transactions to keep your cash book current.
5️⃣ Finalize Reconciliation
→ Adjust your balances, document your reconciliation, and review the process for continuous improvement.
Perfect your financial reconciliation with this essential checklist.
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