Professional Documents
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Love Thy Pets Inc., Bank Reconciliation December 31, 2011 Cash balance per bank statement:
Add: Deposit in transit Less: Outstanding check(s): Check No. XXX Check No. XXX Check No. XXX Adjusted cash balance per bank Cash balance per book: Add: Collections of note receivable plus interest less service fee EFT (electronic funds transfer) Interest earned Direct Deposit(s) IRS refund check Book error(s) Less: Check redeposit Service charges Online fees Overdrafts Automatic payments Stop payments NSF checks Book error(s) Adjusted Cash balance per books X,XXX X,XXX X,XXX XXX XXX XXX XXX XX $X,XXX XXX XX XXX XXX XXX X,XXX XX,XXX $X,XXX X,XXX XXX X,XXX $X,XXX $XX,XXX X,XXX X,XXX $X,XXX
XX,XXX $X,XXX
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They are as follows: a. ATM withdrawals: amounts of money withdrew from the account using a plastic debit or credit card. b. Automatic withdrawals: amounts of money that the person or company authorized for the payment of bills or other items. c. Check redeposit: a check(s) may be redeposit into a companys account for the following reasons: Duplicate payment, unavailable merchandise, incorrect amount, conference cancelled, missed conference for which you were registered, overpayment of shipping charges, and entertainer did not perform. d. Service charges: charges from the bank for services performed for the company. e. Online fees: charges for services provide to an online banking customer such as your company. f. Overdrafts: a service provided by the bank where if your companys account balance goes into the negative the bank will still honor the companys checks. g. Automatic payments: a service provided by the bank where your monthly bills will automatically be paid from your account. h. Stop payment: The fee charged by the bank to stop the payment of a check when it is present to a bank. This is done in cases where the check has be destroyed, lost, or stole. i. NSF check: When someone writes you a check and the money to pay the check is not in their bank account. j. Book error: errors in recording either deposits or checks. 5. Total all of the item in (4) and place the amount in the far right hand column. Next subtract that amount from the subtotal. The title for this line will be, Adjusted cash balance per books. Notes: The adjusted cash balance per bank must equal the adjusted cash balance per books for the bank reconciliation statement to be correct and complete. Dont forget your dollar signs and double underlines. Always check to see that the checks the bank cleared on your account are from your company and not another company with a name and address that looks the same as your companys name.
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