Balance Per Bank
In this section of the bank reconciliation statement, we take the bank's records and adjust them against our records. We must look for items that we would know about that the bank would not. These items could include:
- late deposits,
- outstanding cheques, and
- other cash transactions that the company has completed that the bank would not have recorded.
Title the current section of the bank reconciliation with the title "Balance Per Bank."
Then, start with the ending bank balance from the current bank statement. For MMM, this would be the bank balance at April 30, 2005 of $3,258.41 (see Exhibit 1). The start of this part of your bank reconciliation statement should look like this:
