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26 December, 07:36

The bank statement reveals an EFT received from a customer that has not yet been recorded in the journal. How would this information be included on the bank reconciliation?

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  1. 26 December, 11:32
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    An addition on the book side would this information be included on the bank reconciliation.

    Explanation:

    A bank reconciliation is the method of comparing a cash account with the same details on a bank report on the assets of an individual. The aim of this step is to assess the gaps between the two and to make some adjustments to the accounts. The financial statement details is the bank's database of all transactions in the last month involving the company's bank account.

    The key method for a bank reconciliation is to continue at the conclusion of the bank's cash balance, to offset any transfer transfers from the business to the bank, to delete any checks not approved from the bank and to add or subtract all other things.
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