#bankreconciliation #bankreconciliationstatements #DYK #theaccountsolutions
Bank Reconciliation is an important internal control process that can save your business from embarrassment and potential fraud. Preparing a bank reconciliation statement could be time-consuming and stressful if left unreconciled for a long time and where there are many transactions.
In this video tutorial, we explained in simple terms the following:
1. What is bank reconciliation?
2. What are the triggers of a bank reconciliation?
3. How is the reconciliation done?
4. What are the benefits of a bank reconciliation?
5. What are the risks of not carrying out a bank reconciliation?
6. When should a bank reconciliation statement be prepared?
7. What are the components of bank reconciliation statements?
Are the end of this tutorial, we introduced an automated EXCEL TEMPLATE (VBA) that will aid you to reconcile all your Bank Accounts within a twinkle of an eye. This Template is available for sale at a very low price. If you are interested in the Template kindly send an email to theconsultsplatformsolutions@gmail.com with the subject "BANK RECONCILIATION STATEMENT ON EXCEL" and you will get feedback.
If you want the full video tutorial on "Preparing a Bank Reconciliation Statement with Automated Excel Template", kindly lookout for the next video on this topic.
Below is a Picture Tutorial on Bank Reconciliation Statement.
See also Physical Cash Count in Business
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