Bank Reconciliation Statement using Excel - Easy Guide

Keep a track of Your Bank Balance through a Bank Reconciliation Statment and Develop your own Template

Highest Rated

Created byNiran Marshall Perera

Last updated 11/2017

English

What you'll learn

Understanding what is a bank reconciliation
learn how to reconcile the cash balances of a company's cash book and cash balance of that company's bank account
Develop a template for Bank Reconciliation Statement using Excel

Course content

1 section • 12 lectures • 1h 1m total length

Introduction3:09
Learn how the bank reconciliation statement compares bank balance with the cashbook to identify and rectify differences, uncover errors, and record items like bank charges, interest, and cheque clearances.
Reasons for the difference between Cash Book Bank balance and Bank Statement7:58
Identify why cash book balance differs from bank statements in bank reconciliations. Classify deposits in transit, outstanding cheques, bank charges, and direct deposits, then apply adjustments.
Two methods of Preparing Bank Reconciliation Statement0:59
Compare two bank reconciliation methods: adjusting cash book balance (corrected cash book balance) method with separate adjusted books, and the without adjusting method that records errors in the bank reconciliation.
Concept of Recording Bank Transactions2:13
Record bank transactions from the ledger and bank perspectives; assets increase on debits, liabilities on credits. Match debit with bank credit and credit with bank debit to reconcile.
Why We use Adjusted Cash Book Method0:58
Use the adjusted cash book method to fix errors or unrecorded transactions causing bank balance differences and reconcile with the bank statement.
Adjusted Cash Book Method11:33
Master the adjusted cash book method to prepare a bank reconciliation, aligning receipts and payments with the balance while correcting cash book errors, direct deposits, and cheques in transit.
Example Adjusted Cash Book Method10:02
Engage in a step-by-step example of preparing an adjusted cash book and a bank reconciliation statement, analyzing bank balance vs cash book discrepancies and common reconciling items.
Without Adjusting Cash Method Introduction1:29
Understand the without adjusting cash book balance method to reconcile bank statements by identifying discrepancies and adjusting with transactions from the cash book or the bank balance.
Without Adjusting Cash Method Format2:25
Learn the bank reconciliation format without adjusting the cash book, starting from the cash book balance and using add and less sections, including cheques in transit and bank errors.
Without Adjusting Cash Method Example4:12
Record nine transactions to reconcile the balance per cash book with the bank statement using an add and less format in excel.
Template for Bank Reconciliation16:24
Explore an Excel template for bank reconciliation designed to streamline reconciling your statements. Apply this easy guide to perform accurate bank reconciliation using the template and improve financial clarity.
The End + Bank Reconciliation Template0:36
Learn to prepare a bank reconciliation statement in excel to track your bank balance and understand your financial position.

Requirements

Ability to understand simple English language.
Desire to learn Bank Reconciliation Statement.
Desire to develop a template by your own for Bank Reconciliation.

Description

Bank Reconciliation is an important topic for the Accounting students, employees who are engaged in bank transactions as well as business owners. It is useful not only as a study material but in a practical way also. Because in a company it is necessary to have a same cash balance in the company’s own books as well as in the bank.

So here the course will simply explain what is the meaning of a bank reconciliation and importance of it. Further it will make students identify the reasons for the mismatch of cash balance and will guide to prepare the Bank reconciliation Statement .

The course will not end up only by teaching the Bank Reconciliation Statement. After explaining to prepare the bank reconciliation statement step by step, course will guide students to prepare a template for Bank Reconciliation Statement using Excel. It will enhance the knowledge of preparing Bank Reconciliation as it will give the students a chance to go through the process step by step once again. And also it will be useful for the practical use in preparing Bank Reconciliation Statement.

So You are warmly welcome to enroll and gain knowledge about Bank Reconciliation statement and in the process you can develop your own Template.

Who this course is for:

No specific target student anyone can enroll and learn what is a bank reconciliation