BANK RECONCILTIONS??????????

Reconciling Bank balance as per pass book with the balance as per cash book

Advantages
Bank reconciliation statement helps to detect any errors and mistakes in cash or a passbook
any delay in clearnace or collection of cheques can be identified
Timely reconciliations help prevent and find any frauds related cash

WHAT ARE THE COMMON REASONS FOR DIFFERENCES BETWEEN THESE TWO

* Cheque issued but not presented by the vendor

* Cheque Deposited but not credited in Bank
* BANK charges not recorded in Cash book
* Interest credited but not recorded in cash book
* Direct Debits in BANK
* Direct deposted by customer
* Interest charged by the Bank
* Dividends collected by the Bank Directly
AP Payments
AR Payments
Interest on Deposits

ONCE WE DOWNLOAD THE BANK STATEMENT from (Kyriba)

INCOMING PAYMENTS AR
OUTGOING PAYMENTS AP
GL TRANSACTIONS.. BANK CHANRGES, SALRIES PAID, ELECTRICITY PAID

HOW DO YOU Perform BANK RECONCILIATION

1st we will down load the Bank statement from the portal then segregate transactions, and send it to respective teams like In
to AR team, outgoing payments to AP team and GL transactions I'll be preparing Journals and post it in the system and match

HOWMANY TYPES OF BANK RECONCILIATIONS?

2 TYPES

MANUAL
AUTOMATIC

SAP---------FEBAN--------execute

what is open item in brs

posted in bank statement not posted in sap
Weekly

Which Bank

How Many Banks you do.

How many line items you will see in Bank Statement

Negative- Payment
Postive - Receipts
 what is difference Ledger and subledger

Subledger List of customers and vendors

Main Ledger which we can see in the financial statements
BANK CHARGES A/c Dr
To BANK A/c

customer 90000
to sales 400100

Bank 100100 40
to customer 90000 31

Clients

SAP BANK

thirdparty
MT940 Format name
Monday

HSBC,CITI

one.

70-80 Line items

BANK
to Customer