Bank reconciliation statement format ppt

bank reconciliation statement ppt presentation and sap bank reconciliation process ppt
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Dr.DinoHardy,United Arab Emirates,Teacher
Published Date:25-07-2017
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Bank Reconciliation Statement CPT Section A- Fundamentals of Accounting Chapter 3 CA. Pankaj Goel 2 Meaning WWW.CAPANKAJG 7/12/2013 OEL.COM 7/12/2013 WWW.CAPANKAJGOEL.CO M 3 Bank Reconciliation Statement Strictly speaking there should be no difference in Cash Book(Bank Column) and Pass book(BANK STATEMENT). . However on a particular date it is possible that balances on both the books do not tally. After finding the reasons for non agreement of the bank balances efforts are made to reconcile. This statement is prepared in the form of BRS. Importance of BRS Errors which may have been committed Undue delay in clearance of cheques Discourages staff from embezzlement Reasons for Differences • Timing differences –when time is different 1. Cheques issued but not presented-CASH BOOK-Recorded When Cheque is Issued AND IN PASS BOOK when cheque is presented for payment 2. Cheques paid/deposited into bank but not presented/cleared/banked: -CASH BOOK- Recorded When Cheque is deposited/recived AND IN PASS BOOK when cheque is collected/credited Reasons for Differences- Contd: 3. Interest and dividend collected by bank - CASH BOOK-Recorded When information from bank is received AND IN PASS BOOK when interest is credited by bank 4. Bills collected by bank on behalf of the customer /direct payment by bank- CASH BOOK-Recorded When information from bank is received AND IN PASS BOOK when amount is credited/added by bank Reasons for Differences • Due to errors in recording the entries like writing cash transaction in bank ,undercasting etc 7/12/2013 WWW.CAPANKAJGOEL.CO M Cash Book 9 C D R R 10 PASSBOOK STATEMENT is ISSUED BY BANK and it is copy of customer accounts in bank ledger/BOOKS 11 Pankaj Sir’s Principle WWW.CAPANKAJG 7/12/2013 OEL.COM REMEMBER TWO PRINCIPLES OF PANKAJ SIR 1. IF CASH BOOK is GIVEN –THEN TAKE PASS BOOK -opposite AS GOD and Cash Book as INSAAN 2. IF PASS BOOK IS GIVEN –THEN TAKE CASH BOOK opposite ISGOD and Pass Book as INSAAN 12 WWW.CAPANKAJG 7/12/2013 OEL.COM 7/12/2013 Remember • GOD never does wrong so do exactly same as done i.e if + then add, if – then subtract etc • INSAAN-always make mistake, so do reverse, if done +, the u do - 13 Pankaj Sir’s Principle-Revise If balance as per CB-INSAAN is starting point REVERSE THE ENTRY DONE BY PASS SAME ENTRIES DONE BY INSAAN GOD/PASS BOOK Uncollected cheques, cheque Bank charges, direct payment by deposited not cleared, cheque bank, dishonour of bill-SUBTRACT recorded but omitted to be banked, over cast of bank column of cash book-SUBTRACT Cheque issued not presented for Bank interest, direct deposit by payment, under cast of bank customer-ADD column of cash book-ADD 14 IN CASE OF OVER DRAFT-TAKE GIVEN PART AS GOD AND OTHER AS INSAAN WWW.CAPANKAJG 7/12/2013 OEL.COM Lets Understand Story 15 WWW.CAPANKAJG 7/12/2013 OEL.COM 12-07-2013 8 16 12-07-2013 7 17 12-07-2013 6 18 12-07-2013 5 19 12-07-2013 4 20

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