Cash is always one of the most important resources in any organization. The bookkeepers have intense pressure to keep cash at bank balance up to date. The bookkeepers often struggle to match up the cash book balance and bank statement balance.
This course explains the methodology and art of bank reconciliation. Where you learn from the scratch to expert level that how to prepare, maintain, develop and most important reconcile cash book and bank statements. Plus, how to report the cash figures in financial statements.
Moreover, the trainees usually do have knowledge about the subject matter but they fail to apply that in the real-life scenarios. This course helps to apply your knowledge in most complex bank reconciliation real life scenarios and to make you PRO bookkeeper.
Course Key Concepts: Bank Reconciliation, Bookkeeping, Accounting, Accountancy, CPA, ACCA, Financial, Accountant, Bookkeeper, Cashbook, Bank Statement, Training.
Learning Objectives
- Explore the purpose of reconciliation of the bank ledger account to the corresponding bank statement.
- Identify errors and omissions in the bank ledger account and bank statement.
- Identify timing differences.
- Explore the methodology to make the correcting entries in the bank ledger account.
- Learn the reconciliation between the bank statement balance and the corrected bank ledger account.
- Identify the bank balance to be reported in the final accounts.
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Prerequisites
The basic bookkeeping knowledge is required.