Documente Academic
Documente Profesional
Documente Cultură
Definitions
Bank Reconciliation
Bank Statement
Definitions
Bank Credit Memos
a. Notes receivable by bank in favor of the depositor b. Proceeds of bank loan c. Matured time deposits transferred by the bank to the
current account of the depositor d. Interest income not yet recognized by the depositor
Definitions
Bank Debit Memos
Definitions
Deposits in Transit
Definitions
Outstanding Checks
are checks already recorded by the depositor as cash disbursements but not yet
reflected on the bank statement. NSF or No Sufficient Fund Checks
are checks already drawn and recorded but not yet given to the payees.
Postdated checks
are checks drawn, recorded and given to the payees but bear a date subsequent to the
end of reporting period.
Stale checks
Special Items
The following items are not part of reconciling items in the bank reconciliation statement but are adjusted as part of Unadjusted Balance per Books before making the bank reconciliation statement:
NSF checks issued Unreleased checks Postdated checks issued Stale checks
The uniform pro-forma entry of the above checks is: Cash xxx xxx Accounts Payable To adjust cash account due to __________
*Postdated checks received in practice must not be recorded until the date of the check.