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F3 doubt Bank reconciliation

This topic has 3 replies, 2 voices, and was last updated 5 months ago by John Moffat.

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January 18, 2022 at 12:47 pm #646895
fathima92
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Dishonored cheques from customers will it have effect on bank reconciliation is it lodgements?
January 18, 2022 at 3:37 pm #646945
John Moffat
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Dishonoured cheques do not affect the bank statement, but they do affect the cash account because they should be credited in the cash account (to cancel the debit that was made when the cheque was first received).

This is all explained in my free lectures on bank reconciliations. The lectures are a complete free course for Paper FA and cover everything needed to be able to pass the exam well.
January 19, 2022 at 8:43 am #646998
fathima92
- Topics: 2
- Replies: 9
Got bit confused sir I have watched the video
January 19, 2022 at 9:06 am #647005
John Moffat
Keymaster
- Topics: 57
- Replies: 49603
Has my previous answer sorted it out for you?
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