??BANK RECONCILIATION??

Hi agian my fellow "FlowzZters"! So last time we talk about applying systematic math in business.Now, this topic is when your earnings from your business go through transactions. This is all about the "bank reconciliaion". Now what is "bank reconciliation"? Bank reconciliation comes with a process of adjusting an account balance reported by a bank to reflect transactions that have occurred since the reporting date.

So ok, what are reasons?, why there must be a bank recon?

   OUTSTANDING CHECKS

  these are issued by the depositor but have not yet been presented to the bank for payment.

DEPOSITS IN TRANSIT

 these are deposits made but late to be included in the monthly bank statement.

SERVICE CHARGES

Errors in the CHECK STUB entries.

CANCELLED CHECKS

Example of a Bank Recon Statement to be              familiar with.

 Always remember... $money always flow$ in www.moneyflowzz.blogspot.com  
 See you guys at my next blog :D