Bank account reconciliations/Financial reconciliations

Coupon_Queen_3

Can anyone tell me the basics of doing Bank account reconciliations/Financial reconciliations?

I have applied for a job where I would be needed to do the above. I did reconciliations many years ago & can not remember how to do them.

Please can someone help jog my memory?

Thanks

Jet

Would you be asked to do the bank reconcilliations with an accounts software package?

The principal is the same however you do them - to make sure that what you have accounted for is the same as the bank statement.

LittleVoice

And to see where the differences are - eg unpresented cheques.

Coupon_Queen_3

Thanks for your replys- Im not sure if it will be with an accounts software package, think it may be using excel as it says strong excel knowledge required.

TrikerAndBiker

I do both of these for the company I work for. The bank rec is simply a case of ticking off the bank statements against the cash book entries to ensure they balance. Financial rec's (well the ones I do anyway!) involve checking the entries in the nominal ledger made by the accounts clerk balance.

Anyway reconciliation is a bit like riding a bike, once tried never forgotten, and requires a lot of balance :rotfl:

Coupon_Queen_3

TrickerAndBiker - Thanks very much, thats helped me alot, its been nearly 10 years since I did them but that has helped refresh my memory. I have got an interview on Monday. So fingers crossed.