Bank Reconciliation Statement: It is a statement prepared by company to know the cause of difference between cash book bank column balance and bank pass book balance. It is prepared daily, monthly, yearly according to the requirement. With the help of this statement company can ascertain the differences by comparing one book balance with other book bank balance. If any transactions are omitted then it is written in book and if any transactions recorded wrongly by bank then it is informed by company on time or if any transaction is recorded wrongly by company then it is corrected by company itself.
Bank
Reconciliation statement format:
Bank Reconciliation Statement
As on ---------2021
Particulars |
Amount |
Amount |
Debit balance as per cash book |
|
--------- |
Add: Cheque issued but not
presented for bank |
---- |
|
Add: Interest, dividend collected
by bank |
---- |
|
Add: Amount directly deposited in
bank |
---- |
|
Add: Amount wrongly credited in
cash book |
---- |
|
|
|
--------- |
Less: Directly payment made by
bank |
----- |
|
Less: Cheque paid to bank for
collection but not credited by bank |
----- |
|
Less: Interest charged by bank |
----- |
|
Less: Cheque issued but not
recorded in cash book |
----- |
|
Less: Wrongly debited in cash book
|
----- |
|
|
|
-------- |
Balance as per bank pass book |
|
----------- |
Example:
Prepare bank reconciliation statement on 31st march 2020 with the
help of given information:
·
Debit
balance of cash book is Rs. 48,000
·
Cheque
issued but not cleared in bank Rs. 15,000
·
Cheque
deposited but not recorded in cash book of Rs. 4,500
·
Rs.1800
Amount wrongly credited in pass book.
·
Cheque
deposited but not credited in bank of Rs. 2000
Solution: Bank Reconciliation Statement
As on 31st march 2020
Particulars |
Amount (In Rs.) |
Amount (In Rs.) |
Debit balance of cash book |
|
48,000 |
Add: Cheque issued but not cleared
in bank |
15,000 |
|
Add: Cheque deposited but not recorded
in cash book |
4,500 |
|
Add: Amount wrongly credited in
pass book. |
1,800 |
|
|
|
21,300 |
Less: Cheque deposited but not
credited in bank |
(2,000) |
(2,000) |
Credit balance of pass book |
|
19,300 |
Example: On
31st December 2020 book of Deepak enterprises cash book shows credit
balance of Rs. 8,000. Bank balance of Deepak enterprises cash book and bank
pass book shows different balances. So, to know the reason the management
decided to prepare the bank reconciliation statement with the help of given
information:
·
Rs.
12,000 directly deposited in bank
·
Cheque
presented in bank for payment of Rs. 5000 but not recorded in cash book
·
Interest
received by bank of Rs.1,200
·
Rs.
5,000 debited by bank instead of Rs. 7,000
·
Cheque
issued for collection but not credited by bank Rs. 25,000
·
Bank
charges of Rs. 800
Solution: Bank Reconciliation statement
As on 31st December 2020
Particulars |
Amount (+) |
Amount (-) |
Credit balance (Overdraft) of cash
book |
|
(8,000) |
Amount directly deposited in bank |
12,000 |
|
Cheque presented in bank for
payment of Rs. 5000 but not recorded in cash book |
|
(5,000) |
Interest received by bank of
Rs.1,200 |
1,200 |
|
Rs. 5,000 debited by bank instead
of Rs. 7,000 |
2,000 |
|
Cheque issued for collection but
not credited by bank Rs. 1,000 |
|
(1,000) |
Bank charges of Rs. 800 |
|
(800) |
Credit balance of Pass book |
400 |
|
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