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    Book Reconcilling Items

    Uploaded by

    Earlkenneth Navarro
    This document provides instructions and formats for reconciling cash balances in a book or bank. It explains that reconciling items like credit memos, debit memos, deposits in transit, and outstanding checks should be added or deducted to adjust the cash balance and match the book and bank. The formats shown reconcile the initial balance with reconciling items to calculate an adjusted balance.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd

    Book Reconcilling Items

    Uploaded by

    Earlkenneth Navarro
    42 views1 page
    This document provides instructions and formats for reconciling cash balances in a book or bank. It explains that reconciling items like credit memos, debit memos, deposits in transit, and outstanding checks should be added or deducted to adjust the cash balance and match the book and bank. The formats shown reconcile the initial balance with reconciling items to calculate an adjusted balance.

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    book reconciling

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    This document provides instructions and formats for reconciling cash balances in a book or bank. It explains that reconciling items like credit memos, debit memos, deposits in transit, and outstanding checks should be added or deducted to adjust the cash balance and match the book and bank. The formats shown reconcile the initial balance with reconciling items to calculate an adjusted balance.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    42 views1 page

    Book Reconcilling Items

    Uploaded by

    Earlkenneth Navarro
    This document provides instructions and formats for reconciling cash balances in a book or bank. It explains that reconciling items like credit memos, debit memos, deposits in transit, and outstanding checks should be added or deducted to adjust the cash balance and match the book and bank. The formats shown reconcile the initial balance with reconciling items to calculate an adjusted balance.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 1

    BOOK RECONCILLING ITEMS

    Cash in bank – add: credit memos less: debit


    ADD: CREDIT MEMOS memo
    Notes collected - No DIT and OC
    Proceeds of loan Correct Cash Balance - the same with cash in bank
    Matured time deposits
    Adjusted cash in Bank – find only DIT and OC.
    DEDUCT: DEBIT MEMOS
    Examine errors
    NSF Checks (Returned Checks) Balance Per Ledger/book – bank to book method
    Bank/Service Charge Balance Per Bank – book to bank
    Technically defective
    DAUD/DAIF

    FORMAT:

    Book balance: ***


    Add: Credit memos ***
    TOTAL: ****
    Less: Debit memos (***)
    Adjusted book balance ****

    Note: In case there’s error, determine


    Whether the error will be added or deducted to the
    Balance. When the question is “Cash in book” the format
    Will be followed.

    BANK RECONCILLING ITEMS

    ADD: DIT (Deposit in Transit)

    LESS: O/C (Outstanding Checks)

    FORMAT:

    Book balance: ***


    Add: DITs’ ***
    TOTAL: ****
    Less: O/C (***)
    Adjusted bank balance ****

    Note: In case there’s error, determine


    Whether the error will be added or deducted to the
    Balance. When the question is “Cash in bank” the format
    Will be followed.

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