Bank Account Reconciliations Procedure | CSH107

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Bank Account Reconciliations Procedure Template Word


Are you tired of manually reconciling your bank accounts every month? Do you want to streamline your financial processes and ensure accuracy in your financial statements? Look no further than our Bank Account Reconciliations Procedure Template Word.

This template provides a step-by-step guide for reconciling your bank accounts, including instructions for identifying and resolving discrepancies. It also includes a checklist to ensure all necessary steps are completed and a sample reconciliation report for reference.

By using this template, you can save time and reduce the risk of errors in your financial statements. It is customizable to fit the specific needs of your organization and can be easily integrated into your existing financial processes.

Our Bank Account Reconciliations Procedure Template Word is ideal for small to medium-sized businesses, non-profit organizations, and government agencies. It is designed to be user-friendly and accessible to individuals with varying levels of financial expertise.

Don’t let the tedious task of bank account reconciliations weigh you down. Invest in our Bank Account Reconciliations Procedure Template Word and streamline your financial processes today.

Bank Account Reconciliations Procedure

The Bank Account Reconciliations Procedure outlines monthly bank statement reconciliation practices to ensure the accuracy of your bank account records.

The bank statement reconciliation procedure demonstrates how to prove out your monthly balances in the bank’s account register. The Bank Account Reconciliations Procedure applies to all bank accounts maintained by your company. (8 pages, 1845 words)

Errors or omissions can be made to the company’s bank account records due to the many cash transactions that occur. Therefore, it is necessary to prove the monthly balance shown in the bank account register. Cash on deposit with a bank is not available for count and is therefore proved through the preparation of a reconciliation of the company’s record of cash in the bank and the bank’s record of the company’s cash that is on deposit.

Bank Account Reconciliations Responsibilities

The CFO (Chief Financial Officer) is responsible for review and approval of all reconciliations.

The Controller is responsible for reconciling all checking accounts.

Bank Account Reconciliations Definitions

Batch – All of the day’s credit card transactions are collected into a “batch” of transactions. The batch is closed, usually at the end of the day, and the result is submitted to the merchant processor as a single “batch”.

Settlement – The processor clears the credit card transactions in the batch and the result is “settled” to the designated bank account. Settlement varies by Credit Card Company but usually occurs in 2-3 days after a batch is closed.

Processor – The processor is responsible for authorizing credit card transactions and settling each batch. The processor is also the company that one must interface with on all discrepancies or “chargebacks.”

Chargebacks – A chargeback occurs when a customer (cardholder) disputes a charge that appears on their monthly credit card statement. If the dispute cannot be resolved, the transaction is charged back to the merchant. The processor charges the merchant and returns the cardholder’s money.

Bank Account Reconciliations ProcedureBank Account Reconciliations Procedure Activities

  • Bank Statement Preparation
  • Computerized Format
  • Manual Preparation and Reconciling Items
  • Computerized Preparation and Reconciling Items
  • Adjustments and Other Troubleshooting

Bank Account Reconciliations Procedure Forms



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