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there are 2 procedures given for bank/cash that i cant understand.
1. agree the reconciliation balance per the cashbook to the year end cashbook
2. agree the balance per the bank statement to an original year end bank statement and also to the bank confirmation letter.
i will probably have follow up questions on ur explanations therefore kindly do view my replies.
thank u in advance
A bank reconciliation has been carried out: this reconciles the cashbook balance and the bank balance.
To ensure that this is valid you have to ensure that the two starting points of the reconciliation are correct:
Does the opening cashbook balance per the reconcilition actually agree to the cash book?
Does the openting bank statement balance per the reconciliation actually agree to the bank statement and bank certificate.
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