This post explores unrecorded deposits in a bank reconciliation.Unrecorded deposits are common when preparing a bank reconciliation statement. First of all, other people could transfer money to...

Want to learn what happens to a stale check? Read on.A stale check could confuse most people who have no accounting background. For instance, are 180-day uncashed checks adjusted, replaced, or...

Today, you’ll learn everything about deposit in transit ending formula.Things you need:Book debits (accounting record)Bank statement credits (deposits recorded by a bank)Previous months...

Want to learn whether the bank reconciliation is complete?Read on.This tutorial shows the most common ways to determine when the bank reconciliation is complete. For instance, it describes...

Today, you will learn why bank reconciliation is important to the audit.An audit engagement is not completed unless substantiation of cash is done. First, all Cash in the Bank balances should be...

Ready to learn why do outstanding checks occur at Month-End?This tutorial will describe the five most common reasons. First, the reasons are not listed based on their importance. Each of the...