BANK RECONCILIATION STATEMENT

Help me make a bank reconciliation statement for Westbanc. I attached the problem and the data on the screenshot photos below. Kindly use excel please. Use the format on the last two photos.

Step $1-$ Prepare a form ready for your Bank Reconciliation Statement.

It would be an advantage to use Microsoft Excel or another type of spreadsheet for your

Bank Reconciliation Statement. If not simply use a Word Processor.

Download a form ready for your Bank Reconciliation Statement in MS Excel or MS Word.

You will find links on the web page for Exercise $14.$

Step $2$ Calculate your Bank Balance as at the end of August

At the end of July the bank balance stood at $$5,739\mathrm{.}57.$

Calculate the bank balance at end of August by adding the money coming into the bank $($deposits$)$ and subtracting the anount of money going out of the bank $($payments$).$ Use the template provided which you downloaded in Step $1$ above.

Step $3$ Perform checking procedures

$($a$)$ Check whether any payments $($cheques$)$ listed on the previous Bank Reconciliation

Statement $($July$)$ as outstanding have gone through the bank in August. If some cheques are still outstanding at end of August, they must be listed on the Bank Reconciliation Statement for August.

$($b$)$ Check whether any deposits listed on the previous Bank Reconciliation Statement $($July$)$ as outstanding have gone through the bank in August. $($There may not be any listed$).$ If some deposits are still outstanding, they must be listed on the Bank Reconciliation Statement for August.

$($c$)$ Check whether any payments $($cheques$)$ listed on the August list of payments are still outstanding at end of August $($ie not passed through the bank$).$ The standard procedure is to start at the top of your list of payments for August tick $()$ every payment that has gone through the bank. You also tick $()$ the payment on the Bank Statement at the same time. Check whether any deposits listed on the August list of deposits are still outstanding at end of August $($ie not passed through the bank$).$ The standard procedure is to start at the top of your list of deposits for August tick $()$ every deposit that has gone through the bank. You

also tick $()$ the deposit on the Bank Statement at the same time.

Therefore if any Payment or Deposit is not ticked when you have completed the procedure, it means it is outstanding $($has not passed through the bank$).$

Step $4-$ Prepare Bank Reconciliation Statement

Those payments or deposits which are outstanding must be listed on your Bank

Reconciliation Statement for August.

You are trying to reconcile:

The Cash Book balance as at $31$ August $($which you calculateed in step $1)$ with the Bank Balance as at $31$ August $($as per the bank statement which you are given$)$ Supplement C $-$ List of Cheque Payments for August

Check these cheque payments with what appears on the Bank Statement $($Supplement A$).$

Find out whether there are any cheque payments for August that do not appear on the Bank

Statement i$.$e$.$ have not gone through the bank yet.

Important

You should also check to see if any cheques written in July are still outstanding at the end of

August. You will find a list of outstanding cheques on last month's Bank Reconciliation

Statement.

Look carefully for bank fees. If you find any bank fees on the Bank Statement you should add

them to your list of payments and amend the total.