thatguywith898
Apr 17, 2009, 04:44 PM
This is bank reconciliation work I am doing:
Hi, I needed understand if I am correct on this. If a bank has an error on a cheque that you have deposited and they made the cheque into a larger amount than it should have been, it should be deducted from the cash balance per bank right? If it was smaller than the amount that should have been deposited it is added to the cash balance per bank right?
Also, please confirm if this is right as well. A company makes errors 1.recording its cheques that they have given to other people, and also have made errors 2.recording it's deposits into their own bank.
1. If they add more value on their records than what the actual cheques were when they were given to others than the balance per books should be increased. And in the other way, if they were to decrease the value on their records from what that check really was, they should deduct from their balance per books when doing a bank reconciliation of course.
2.Now about the deposits made into their own banks: If they add value on their records about these deposits, they need to deduct from the balance per books, and similarly when they reduce value on their records for a deposit made into their own account, they should add to the balance of books.
Is this right, or do I have an mistakes?
Hi, I needed understand if I am correct on this. If a bank has an error on a cheque that you have deposited and they made the cheque into a larger amount than it should have been, it should be deducted from the cash balance per bank right? If it was smaller than the amount that should have been deposited it is added to the cash balance per bank right?
Also, please confirm if this is right as well. A company makes errors 1.recording its cheques that they have given to other people, and also have made errors 2.recording it's deposits into their own bank.
1. If they add more value on their records than what the actual cheques were when they were given to others than the balance per books should be increased. And in the other way, if they were to decrease the value on their records from what that check really was, they should deduct from their balance per books when doing a bank reconciliation of course.
2.Now about the deposits made into their own banks: If they add value on their records about these deposits, they need to deduct from the balance per books, and similarly when they reduce value on their records for a deposit made into their own account, they should add to the balance of books.
Is this right, or do I have an mistakes?