Hellow guys, Welcome to my website, and you are watching Bank Reconciliation Statement (Calculating Deposits Intransit & Outstanding Checks). and this vIdeo is uploaded by Allen Mursau at 2012-10-28T07:04:13-07:00. We are pramote this video only for entertainment and educational perpose only. So, I hop you like our website.
| Name | Bank Reconciliation Statement (Calculating Deposits Intransit & Outstanding Checks) |
| Video Uploader | Video From Allen Mursau |
| Upload Date | This Video Uploaded At 28-10-2012 14:04:13 |
| Video Discription | Accounting for the reconciliation of bank balances using a bank reconciliation schedule, example details how to calculate (1) deposits in transit which are end of month deposits of cash on companys (depositors) books in one month, received by bank in following month and (2) outstanding checks written by depositor but do not clear bank until next month, whats included on the schedule and how its used, the schedule explains the differences between the banks and company's (depositor) records of cash, the example explains reconciling both the bank balance to a correct cash balance, the balance per the bank statement is determined by statrting with the bank statement balance and adding (deposits intransit, undeposited receipts of cash on hand, bank errors which understate the bank balance) and subtracting (outstanding checks, bank errors which overstate the bank balance), to calcuale deposits in transit (book deposits minus bank deposits and deposits in transit from the previous month that have now cleared the bank), to calculate outstanding check (checks written per books minus checks which cleared the bank for the current period and clecks which cleared the bank from the previous month), after calculating deposits in transit and outstanding checks the correct cash balance for the company can be determined, detailed example explained by Allen Mursau |
| Category | Education |
| Tags | bank statement | bank reconciliation | cash balance | deposits in transit | outstanding checks | bank charges | bank credits | bank errors | depositor errors | not sufficient funds | nsf check | bank balance | book balance | cash over and short | petty cash | cash deposits | bank collections | bank deposits | cash reconcilliation | accounts receivable | notes receivable | cash receivables | Mursau |
