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Bank Reconciliation Entries Guide

This document provides examples of journal entries for adjusting bank reconciliation transactions. It lists transactions such as bank service fees, returned checks, interest accruals, nonsufficient fund checks, and book errors. For each transaction type, it identifies the affected accounts and whether the accounts should be debited or credited in the adjusting entry. The examples are meant to illustrate the proper accounting treatment for common reconciling items between a company's cash records and its bank statement.

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Aira Mae Quinones Orendain
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439 views2 pages

Bank Reconciliation Entries Guide

This document provides examples of journal entries for adjusting bank reconciliation transactions. It lists transactions such as bank service fees, returned checks, interest accruals, nonsufficient fund checks, and book errors. For each transaction type, it identifies the affected accounts and whether the accounts should be debited or credited in the adjusting entry. The examples are meant to illustrate the proper accounting treatment for common reconciling items between a company's cash records and its bank statement.

Uploaded by

Aira Mae Quinones Orendain
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd

lOMoARcPSD|16108634

3454387 Journal Entries for Bank Reconciliation

Accountancy (Ateneo de Davao University)

Studocu is not sponsored or endorsed by any college or university


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lOMoARcPSD|16108634

Adjusting Journal Entries for Bank Reconciliations

Journal Entry
Transaction Description
Account Title Debit Credit
Bank services, returned checks, and fees:
Cash XXX
The collection by the bank for the corporation of a
Collection Fee Expense XXX
Notes Receivable when the interest has not been
Notes Receivable XXX
accrued
Interest Revenue XXX

NSF Check—Customer does not have funds in their Accounts Receivable XXX
bank account to cover payment of check. Cash XXX

Bank Service Charges—Charges to the corporation Check Printing Expense XXX


for check printing services. Cash XXX

Bank Service Charges—Charges to the corporation Bank Service Expenses XXX


for checking account service fees from the bank. Cash XXX

Book Errors:
The check is written out for more than what was Accounts Payable XXX
recorded in the check register. Cash XXX

The deposit is recorded on the books as higher than Accounts Receivable XXX
the dollar amount deposited in the bank. Cash XXX

The check is written out for less than what was Cash XXX
recorded in the check register. Accounts Payable XXX

The deposit is recorded on the books as lower than Cash XXX


the dollar amount deposited in the bank. Accounts Receivable XXX
For book errors, you will subtract the actual amount from the recorded amount to get the dollar
amount for the correcting adjusting entry.

MJC Revised 10/2011 Page 1

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