An essential part of the monthly closing process is to create a bank reconciliation for all cash accounts. In the Bank Reconciliation Essentials course, we cover the structure of this document, its components, the problems likely to be uncovered by it, and why you should consider conducting the reconciliation on a more frequent basis. We also describe the proof of cash, which can be used to find cash-related discrepancies that might not be apparent on a bank reconciliation.
Learning Objectives
Upon successful completion of this course, participants will be able to:
Identify the reasons why you should complete a bank reconciliation.
Specify the contents of a bank statement.
Recall the types of bank charges that can appear on a bank statement.
Specify the nature of the reconciling items that can appear on a bank reconciliation.
Recall the structure and uses of a proof of cash.
Major Topics
The Purpose of a Bank Reconciliation
The Bank Statement
Bank Reconciliation Concepts
The Proof of Cash
