How To Do A Bank Reconciliation (EASY WAY)

⏱️ TIMESTAMPS
00:00 - Intro
00:58 - Bank Statement Definition
01:14 - Cash Book Definition
01:52 - Why do the Bank Statement and Cash Book disagree?
03:38 - What is a Bank Reconciliation?
04:03 - Why is a Bank Reconciliation necessary?
04:23 - When are Bank Reconciliations done?
05:29 - Step 1 - Get copies of the Bank Statement and Cash Book
06:20 - Step 2 - Bank Reconciliation template
07:48 - Step 3 - Tick all matching transactions
08:28 - Step 4 - Calculate adjusted Bank Statement balance
10:28 - Step 5 - Calculate adjusted Cash Book balance
13:07 - Step 6 - Check that the adjusted totals match
13:43 - Step 7 - Prepare the necessary Journal Entries


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