PICKLE RICK CORPORATION

PROCEDURE DOCUMENT: BANK RECONCILIATION PROCESS

1. The process starts upon receipt of the bank statements, including any attachments thereto.
2. The Accounting Staff checks and generates the bank ledger accounts for all banks.
3. The Accounting Staff then checks if there are any differences between balances shown by the bank statements
and the general ledger reports. If there are no differences between the balances shown by the bank statements and
the general ledger reports, the Accounting Staff records the final reconciliation report, to be reviewed by the
Accounting Supervisor and to be approved by the Accounting Manager. If there are differences between the bank
statements and the general ledger reports, reconcile each set and identify differences.
4. For differences noted related to bank records, the Accounting Staff will send an e-mail to the Bank stating the
differences noted. For differences noted to the company’s own accounting records, the Accounting Staff prepares
the adjusting journal entries related to such differences, to be reviewed by the Accounting Supervisor and
approved by the Accounting Manager, before final posting.
5. Upon accounting for the differences noted, and both the bank and book records have been agreed, the Accounting
Staff prepares the final reconciliation report, to be reviewed by the Accounting Supervisor and to be approved by
the Accounting Manager.