Bank Reconciliation Courses

Reconciling a companies banking and transaction accounts can be a nightmare when the daily transactions of accounts receivable and accounts payable staff is not performed accurately.

Watch the video to see what is included in a bank reconciliation

 

Transaction Accounts and Source Documents

Reconciling a bank, credit card, PayPal or loan account involves matching a transaction that has been entered by data entry staff to the official record in the bank statement. This record is referred to as a source document and can include invoices and receipts for expenses but more includes direct debit payments that are automatically deducted from the bank account.

Transaction Coding and Account Categories

The other role for an office administrations person performing bank reconciliations is they need to code the transaction into the correct category: asset, liability, transfer, owners equity, expense, income etc

Issues arise in bank reconciliations when office admin staff can’t locate the source document and need to go to the person responsible to see if they can remember what it was for.

These courses take you through typical monthly bank reconciliations using Australia’s leading accounting programs