Bank Reconciliation Template
Reconcile your cash GL account to bank statements each period. Identify outstanding items and ensure complete cash control.
How to use this template
Gather bank statements and GL records
Obtain the official bank statement and extract all cash transactions from your GL for the period. Note the as-of date for both.
Identify cleared items
Line-by-line, check off transactions that appear on both the bank statement and GL. These are your cleared items.
Document outstanding checks
Identify checks written but not yet cleared. Create a schedule of outstanding checks with check number, date, and amount.
Identify deposits in transit
Note deposits recorded in GL but not yet on bank statement. List each with deposit date and amount.
Reconcile to matching balance
Calculate: Bank balance + Deposits in transit - Outstanding checks = GL cash balance. Any difference requires investigation.
Why use this template
- Detects fraud, errors, or unauthorized transactions
- Ensures your cash balance is accurate before finalizing financials
- Identifies missing or incorrectly recorded deposits and checks
- Provides comfort that you have complete control over cash accounts
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