Chapter 12: Bank Reconciliation

• Bank Reconciliation


  is a process that ensures a company's financial records (like its cash book) match the transactions listed by the bank.
• Unpresented Cheques 


  refers to a cheque that has been written and recorded in the cash book but the bank has not yet processed it.
• Outstanding Lodgements 


  are funds that we got recorded as of going into our bank but the bank have not processed them by the date of the bank statement.