For large companies

For large companies Typically these fees appear on your bank statement and you will ne to adjust your bookkeeping to account for them. For example you note that the companys general lger balance is IDR million while the monthly bank statement shows a balance of IDR . In the bank statement it was record that Rp. was record as a bank fee. For this reason you ne to adjust your bookkeeping to debit bank fees of IDR as expenses. Interest income If you earn interest from a bank that interest income will appear on your bank statement.

It would be better For large companies

If you made adjustments in your Bahamas WhatsApp Number List bookkeeping to record the interest on your income statement. For example you note that the general lger records the bank account balance at the end of the month as IDR million while the bank records show a balance of IDR . because the bank paid IDR in interest that month. So you must adjust your books to record interest income of IDR . Error Either you or the bank could have made a mistake. Correcting errors can be done by making an adjusting journal in the books or calling the bank to correct the error.

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Such errors can include

Withdrawals or deposits that  are France Phone Number List not record in your companys books and bank errors. Also read Types of Receivables WriteOff Methods and Examples of Journals How Often Should You Perform a Bank Reconciliation The frequency of bank reconciliation depends on the size complexity of the business and the volume of transactions. with a large volume of transactions it is recommend to reconcile bank statements daily to ensure that any discrepancies or errors can be identifi and correct immiately. For small companies reconciling bank statements during the monthly or quarterly closing process is common. However there are situations where a bank reconciliation may be necessary.

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