Bank Reconciliation

Checks that show up on your bank statement after the process is completed

• Cleared Checks

• Deposits in Transit

• Outstanding Check

• NSF Checks

When checks are bounced back and you are charged an overdraft fee. This is known as...

• Cleared Checks

• Deposits in Transit

• Outstanding Check

• NSF Checks

A check you wrote that has not been deposited and cleared by the other party's bank is known as..

• Cleared Checks

• Deposits in Transit

• Outstanding Check

• NSF Checks

A cash deposit made by business appears on the bank statement as _______ balance.

• Debit

• Credit

• Expenses

• Liabilities

What is the term for balancing a company's cash account to its bank account?

• Account balancing

• Bank reconciliation

• Adjustment

• Cleared balance

In order to perform a bank reconciliation you will need the check register and which of the following?

• Bank Statement

• Chart of Accounts

• Accounts Payable

• Accounts Receivable

A_____________________ is a copy of the bank's customer's account in the books of the bank.

• Cash Book

• Bank Reconciliation Statement

• Bank Statement

What do you need to ADD to YOUR records that the bank has on their end?

• Outstanding Deposits

• Interest Earned

• Outstanding Checks

• Your Own Errors

What are things that YOU know about that are NOT on the bank statement?

• Interest Earned

• Bank Fees

• NSF Checks

• Outstanding Checks

NSF Check means...

• Not Satisfied Fully

• Not So Full

• Non Sufficient funds

• Non Satisfied Facts