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Aslam-ul-Alaikum.

   

Bank Reconciliation Statements           Lecture 22                        

 

This lecture after start we will covered these are:

 

  • Bank book

Book prepared by customer in which he record all bank transactions

  • Bank Statement

Bank statement prepared by bank/banker in which they record all transactions of customers.

 

  • Debtor Creditor

Account receivables

 

  • Creditor

Account payable

  • Un presented Cheque    dr

Cheque issued to creditor but still not paid/Still not presented/still not cashed

 

Un creditor Cheque      cr

Cheque received from debtor deposited into account but not credited/not cleared/

 

Customer’s journal                   bank’s journal

 

Bank account dr                               cash account      dr                                                      

  cash account                           customer a/c

At time, banks record transcations in our account without account our knowledge e.g.

There are four transaction bank charges, profit, tax, some time, someone deposits in our account money directly in our account that escapes recording in our books.

 

Bank reconciliation

 

 This difference the bankbook and bank statement Is called bank reconciliation.

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