Bank Reconciliation - ADJUSTMENTS NA DAPAT GAWIN SA BOOK NG

COMPANY
- is a statement which bring into agreement the
- Credit Memos = nadadagdagan yung cash mo =
cash balance per book and cash balance per
nagdagdag na si bank pero ikaw hindi pa =
bank
example: nagbayad diretso sa bank acc yung
Bank Deposits customer,
- Debit Memos = nababawasan yung cash =
- Demand Deposit = Checking or Current Account example: service charge ng bank
- Savings Deposit = Ipon na may small interest - Errors
- Time Deposit = with time restriction
Bank Reconciling Items
Book
- Outstanding checks = issued a check to the
- The company payee but haven’t encashed yet = hindi pa
Bank naeencash or nadeposit pero ibinayad mo na
- Deposit in Transit = deposit means increase in
- cash = dineposito mo na pero hindi pa
nakarating kay bank = in transit pa lang kaya
hindi pa na-credit ni bank sa’yo
- Errors

Book Bank
Receipts Disbursement Withdrawal Deposit
Increase Decrease in Decrease in Increase
*Whenever you deposit to the bank, sa POV ni bank in Cash Cash Liability in Liability
may utang siya sa’yo kaya naka-credit yung name ng COMPANY COMPANY BANK POV BANK POV
company POV POV

Forms of Bank Reconciliation

Adjusted Balance Method

Book Reconciling Items

Credit Memos Debit Memos

*Kapag nagbayad through cash in bank

*KUNG NAKANINO YUNG RECONCILING ITEM, SIYA

YUNG GAGAWA NG PAGCO-CORRECT

Book Reconciling Items

- Ginawa ni Bank at tama siya, therefore si Book

ang makikipag bati
*NSF – walang reconciliation sa act ng depositing pero - Yung record ni Book ay gustong kopyahin yung
meron sa pagtalbog ng check, hindi buburahin yung record ni Bank
initial na deposit na nakalagay, instead, ilalagay nalang
Book to Bank Method
sa withdraw para mabawasan yung deposited amount
dahil nga tumalbog yung check - Book Recon Items – same treatment
- Bank Recon Items – opposite treatment (from
*Techinically Defective Checks – may kulang sa check
add to less, from less to add)
(pirma or whatever)

Bank to Book Method

Bank Reconciling Items
- Bank Recon Items – same treatment
Deposit in Transit
- Book Recon Items – opposite treatment (from
- Can also be called as Outstanding Deposit add to less, from less to add)
- Meron kang idinedeposit pero hindi siya
nakarating kay bank
- Nairecord mo na as receipts (increase in cash)
pero si bank ay hindi pa nairecord as deposit
(increase in cash ni company but increase in
liability kay bank)
- Sa POV ni book deposito na siya pero hindi pa
nagrereflect kay bank dahil pwedeng: OTW,
Inabutan ng cut off, hindi naipadala ng araw na
iyon pero bukas ay ipapadala rin naman

Outstanding Checks

- Naibigay mo na sa payee, therefore, nabawasan

mo na ang cash mo, pero hindi pa encashed,
kaya WALA PANG RECORD ANG BANK abt sa
check na ito *Tip by Sir Win in using Adjusted Balance Method
format in getting Book to Bank and vice versa – 34:23
*THERE WILL BE NO ADJUSTING ENTRIES – DAHIL TAYO
SI BOOK AT RECORD LANG NI BOOK ANG IMPORTANTE
SAATIN

*THERE WILL BE NO ADJUSTING ENTRIES WHEN IT

COMES TO BANK RECONCILING ITEMS

Errors

- Slide = nakulangan ng isang number yung record

(example: 123 dapat pero 12 lang yung na-
record)
- Transposition = nagkapalit or baligtad yung
position ng number (example: 123 dapat pero
naging 132)

Book to Bank Method