On a bank reconciliation, the amount of an unrecorded bank service charge should be:_________

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16-08-2022
Business

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On a bank reconciliation, the amount of an unrecorded bank service charge should be:_________

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QWCyan QWCyan · Answer 1 · 2022-08-21T11:25:16+02:00

The amount that the bank has charged should be deducted from the bank balance of the cash book. The bank reconciliation statement is a statement that is drawn up to check if there are any differences between the book maintained by us known as the cash book and the book maintained by the bank known as the passbook.

Sometimes the charges like the electricity charges are automatically paid by the bank. So the charges need to be known to the customer. So they maintain a cash book in which they maintain a bank column to know what are the transactions that have happened with the bank. The passbook is where the transactions of the bank will be recorded automatically.

It is very important that the balance of the bank column of the cash book be equal to the passbook. If there are any discrepancies then the bank reconciliation statement is made to check why this discrepancy is there.