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Bank Reconciliation

A report that compares the existing bank balance adjusted by outstanding items (uncashed checks, missing withdrawals, missing deposits) to the cash ledger in the books of record for a business. The cash ledger is adjusted by unrecorded items including bank activity that has yet to be posted to the books (deposits, withdrawals and loan payments).

Bookkeeping – Bank Reconciliations (Lesson 47)

03/03/2017

An essential task of bookkeeping is making sure the ledger accounts for cash reconcile to the bank.   Your average person believes that this is a monthly task.    Well in the private world, this may be true.   But in small business, this is a [...]

Bookkeeping – Schedules (Lesson 23)

01/18/2017

In accounting there are books (journals) and ledgers for source entry of information.  A trial balance is used to monitor the types of accounts.   With the use of parent-child accounts and control accounts bookkeepers can generate a wide array of [...]