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HOW TO DO A BANK RECONCILIATION

This document will guide you through how to do a monthly bank reconciliation, as
required for your DSU audit submission.

This first page provides an example January bank reconciliation for the Fictional Student
Society, with detailed explanations of every item.

The remaining pages in this workbook contain monthly autocalculating bank


reconciliation templates for you to fill in, print off, and add to your records.

Bank Reconciliation
FICTIONAL STUDENT SOCIETY
DATE: January 14, 2012

Bank Balance $ 2,012.24

PLUS Outstanding Deposits


Petty cash $120.00
DSU funding cheque (fall 2011) $130.00

TOTAL $ 250.00

LESS Outstanding Cheques

Cheque # Date Amount


149 12-Nov $ 10.00
153 5-Jan $ 100.00
154 5-Jan $ 40.00

TOTAL $ 150.00

Adjusted Bank Balance $ 2,112.24

General Ledger $ 2,115.74

Adjustment to Ledger
Bank Fees $ 3.50
Adjusted General Ledger $ 2,112.24

Difference $ -
SOCIETY: Your society name.

DATE: Closing balance date from your bank statement.

BANK BALANCE: Closing balance on your bank statement.

OUTSTANDING DEPOSITS: List any petty cash, cheques written TO your society but not yet cashed,
or any other money that's not in the bank account yet.

TOTAL: This will automatically sum all outstanding deposits.

OUTSTANDING CHEQUES: List any cheques you have written, but haven't checked off in your ledger
as being cashed by the date of this month's bank statement. For example, if your closing balance
date is Jan. 31, any uncashed cheques you've written on or before Jan. 31 should be listed here,
each on its own individual line.

TOTAL: This will automatically sum all outstanding cheques.

ADJUSTED BANK BALANCE: This will automatically sum Bank Balance and Outstanding Deposits,
and subtract Outstanding Cheques.

GENERAL LEDGER: This is the balance in your General Ledger on the same date as your bank
statement closing balance date.

BANK FEES: If you have bank fees FOR THE MONTH OF THE BANK RECONCILIATION YOU ARE
DOING, write them here. Note that you must record bank fees in your ledger ON OR AFTER THE DAY
YOU GET THE BANK STATEMENT (NOT the day the bank fees are listed as being applied on your
bank statement), or this will not work right. For example, you are doing your bank reconciliation for
the (fiscal) month ending Jan. 14. You received your statement in the mail on Jan. 20. You would
then record "January bank fees" with a date of Jan. 20 in your General Ledger, and also record that
amount here on the bank reconciliation for that month.
YOU GET THE BANK STATEMENT (NOT the day the bank fees are listed as being applied on your
bank statement), or this will not work right. For example, you are doing your bank reconciliation for
the (fiscal) month ending Jan. 14. You received your statement in the mail on Jan. 20. You would
then record "January bank fees" with a date of Jan. 20 in your General Ledger, and also record that
amount here on the bank reconciliation for that month.

ADJUSTED GENERAL LEDGER: This will automatically subtract Bank Fees from General Ledger.

DIFFERENCE: Arguably the most important line, this shows you if any mistakes have been made in
your bookkeeping.
A Value of "0": Congrats! You have likely entered everything correctly.
A Positive Value: Means you have more money in the bank than you accounted for in your General
Ledger. This is usually due to not recording either bank fees or a cheque you wrote.
A Negative Value: This is slightly more ominous, and indicates that you have less money than your
books say you do. While it could mean that money has gone missing or been stolen, it is often due
to misrecording the amount of a cheque written, or a simple addition error in your General Ledger
balance.
Bank Reconciliation
SOCIETY NAME
DATE: END FISCAL MONTH

Bank Balance $ -

PLUS Outstanding Deposits

TOTAL $ -

LESS Outstanding Cheques

Cheque # Date Amount

TOTAL $ -

Adjusted Bank Balance $ -

General Ledger $ -

Adjustment to Ledger
Bank Fees

Adjusted General Ledger $ -

Difference $ -
Bank Reconciliation
SOCIETY NAME
DATE: END FISCAL MONTH

Bank Balance $ -

PLUS Outstanding Deposits

TOTAL $ -

LESS Outstanding Cheques

Cheque # Date Amount

TOTAL $ -

Adjusted Bank Balance $ -

General Ledger $ -

Adjustment to Ledger
Bank Fees

Adjusted General Ledger $ -

Difference $ -
Bank Reconciliation
SOCIETY NAME
DATE: END FISCAL MONTH

Bank Balance $ -

PLUS Outstanding Deposits

TOTAL $ -

LESS Outstanding Cheques

Cheque # Date Amount

TOTAL $ -

Adjusted Bank Balance $ -

General Ledger $ -

Adjustment to Ledger
Bank Fees $ -

Adjusted General Ledger $ -

Difference $ -
Bank Reconciliation
SOCIETY NAME
DATE: END FISCAL MONTH

Bank Balance $ -

PLUS Outstanding Deposits

TOTAL $ -

LESS Outstanding Cheques

Cheque # Date Amount

TOTAL $ -

Adjusted Bank Balance $ -

General Ledger $ -

Adjustment to Ledger
Bank Fees $ -

Adjusted General Ledger $ -

Difference $ -
Bank Reconciliation
SOCIETY NAME
DATE: END FISCAL MONTH

Bank Balance $ -

PLUS Outstanding Deposits

TOTAL $ -

LESS Outstanding Cheques

Cheque # Date Amount

TOTAL $ -

Adjusted Bank Balance $ -

General Ledger $ -

Adjustment to Ledger
Bank Fees $ -

Adjusted General Ledger $ -

Difference $ -
Bank Reconciliation
SOCIETY NAME
DATE: END FISCAL MONTH

Bank Balance $ -

PLUS Outstanding Deposits

TOTAL $ -

LESS Outstanding Cheques

Cheque # Date Amount

TOTAL $ -

Adjusted Bank Balance $ -

General Ledger $ -

Adjustment to Ledger
Bank Fees $ -

Adjusted General Ledger $ -

Difference $ -
Bank Reconciliation
SOCIETY NAME
DATE: END FISCAL MONTH

Bank Balance $ -

PLUS Outstanding Deposits

TOTAL $ -

LESS Outstanding Cheques

Cheque # Date Amount

TOTAL $ -

Adjusted Bank Balance $ -

General Ledger $ -

Adjustment to Ledger
Bank Fees $ -

Adjusted General Ledger $ -

Difference $ -
Bank Reconciliation
SOCIETY NAME
DATE: END FISCAL MONTH

Bank Balance $ -

PLUS Outstanding Deposits

TOTAL $ -

LESS Outstanding Cheques

Cheque # Date Amount

TOTAL $ -

Adjusted Bank Balance $ -

General Ledger $ -

Adjustment to Ledger
Bank Fees $ -

Adjusted General Ledger $ -

Difference $ -
Bank Reconciliation
SOCIETY NAME
DATE: END FISCAL MONTH

Bank Balance $ -

PLUS Outstanding Deposits

TOTAL $ -

LESS Outstanding Cheques

Cheque # Date Amount

TOTAL $ -

Adjusted Bank Balance $ -

General Ledger $ -

Adjustment to Ledger
Bank Fees $ -

Adjusted General Ledger $ -

Difference $ -
Bank Reconciliation
SOCIETY NAME
DATE: END FISCAL MONTH

Bank Balance $ -

PLUS Outstanding Deposits

TOTAL $ -

LESS Outstanding Cheques

Cheque # Date Amount

TOTAL $ -

Adjusted Bank Balance $ -

General Ledger $ -

Adjustment to Ledger
Bank Fees $ -

Adjusted General Ledger $ -

Difference $ -
Bank Reconciliation
SOCIETY NAME
DATE: END FISCAL MONTH

Bank Balance $ -

PLUS Outstanding Deposits

TOTAL $ -

LESS Outstanding Cheques

Cheque # Date Amount

TOTAL $ -

Adjusted Bank Balance $ -

General Ledger $ -

Adjustment to Ledger
Bank Fees $ -

Adjusted General Ledger $ -

Difference $ -
Bank Reconciliation
SOCIETY NAME
DATE: END FISCAL MONTH

Bank Balance $ -

PLUS Outstanding Deposits

TOTAL $ -

LESS Outstanding Cheques

Cheque # Date Amount

TOTAL $ -

Adjusted Bank Balance $ -

General Ledger $ -

Adjustment to Ledger
Bank Fees $ -

Adjusted General Ledger $ -

Difference $ -