This is a complete guide on how to use a bank reconciliation statement.Non-accountants and non-bookkeepers usually do not use bank reconciliation statements fully. For instance, they might have...

This is a complete guide to testing outstanding checks.The testing of outstanding checks ensures a bank reconciliation statement is accurate. For instance, an auditor usually performs tests on a...

Today, you’ll learn what happens if you have an outstanding check.Generally, having several outstanding checks does not constitute a set of accounting problems. Indeed, various sets of checks...

Today, you’ll learn are deposits in transit considered cash.Summary:Cash was already received and deposited into a bankCheck payments were deposited on the last banking day of the...

Want to learn different examples of outstanding checks? Read on.Including:Undeposited checksLost checksApproved checks but still unreleased to payeesChecks with too many errors and...

Want to learn how deposits in transit affect a bank reconciliation? Read on…Deposits in transit can affect the bank reconciliation in four ways. First, it increases the unadjusted bank balance....