Financial Planning & Money Management Bank Reconciliation Notes A Bank Reconciliation is a report ______________________________________________ _______________________________________________________________________.

Carrying out this process is often called "__________________________." Important Terms Bank Statement: Once a month your ank sends you a statement listing all the acti!ity in your account for a specific period of time. The statement includes" #. _________ alance $. ____________ %. Checks __________ &. _______ 'ithdra'als Cancelled Check" A check you ha!e 'ritten that has een ____________________________. Outstanding Check" A check you ha!e 'ritten that _______________________ y your ank. Voided Check: A check you 'rote _____________________ and 'ill ne!er e __________. Deposit in T ansit: A deposit you ha!e made and recorded in your check register ut has not "________________" y the ank in time to appear on your statement. Se !ice Cha ge: Any ________ the ank has made to your account. ,________________ -ee. Ne' ________ -ee. ____________ -ee. ________ Check -ee. ______ /ayment Order. etc.0 The alance reported on your ank statement 'ill pro a ly e different from the alance in your check ook register. The follo'ing are some reasons for a difference" 1ou may ha!e 'ritten checks that ha!e not yet ____________ your ank 1ou may ha!e ____________ money into your account after the statement 'as prepared A transaction may not ha!e een ________________ A transaction may ha!e een ________________ recorded y either you or the ank Interest may ha!e een _____________ on your account The ank may ha!e ______________ you 'ith a ank fee (. _________ earned ). __________ Charges *. +nding __________

To determine your true alance. you should complete a Bank Reconciliation.