Operations · Finance

Bank reconciliation

A worked month-end reconciliation of the operating account — how the cash book is matched to the bank statement, and the discrepancies to resolve.

Bank statement extract

Operating account (xxx-4014) · as at 30 June 20XX

Date	Description	Debit	Credit	Balance
19 June 20XX	EFT BrightSpark Electrical	$506.00	—	$64,210.55
20 June 20XX	Direct debit Statewide Property	$18,650.00	—	$45,560.55
21 June 20XX	Customer receipt — NX-10482	—	$1,320.00	$46,880.55
22 June 20XX	Direct debit TelOne Communications	$884.40	—	$45,996.15
24 June 20XX	EFT Coastline Office Supplies	$349.80	—	$45,646.35
30 June 20XX	Bank account fee	$15.00	—	$45,631.35

Reconciliation statement

Balance as per cash book (general ledger): $46,186.75
Unpresented payment — Summit Catering (not yet cleared): -$594.00
Bank account fee not yet in the cash book: -$15.00
Balance as per bank statement: $45,577.75

Reconciled — the adjusted cash book agrees with the statement balance of $45,631.35.

Cross-check against the petty-cash book and payments.

Discrepancies to resolve

Discrepancy INV-20XX-0146

Toner invoice billed for 6 units; only 4 received. Invoice on query — do not pay until resolved.

Action: Confirm with supplier; escalate to Finance Manager if unresolved.

Discrepancy Cash book entry 30 Jun

TelOne payment keyed as $848.40 in the cash book but $884.40 on the statement — a transposition error.

Action: Correct the cash book entry and note the adjustment; escalate if it affects a closed period.

Found something that doesn't reconcile? Correct the record, note the adjustment, and raise a query or escalate to the Finance Manager — see the finance procedure.