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Lodgement

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FA – FIA FFA › Lodgement

  • This topic has 1 reply, 2 voices, and was last updated 4 years ago by John Moffat.
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  • September 23, 2020 at 3:21 pm #586465
    AhlamAmina
    Participant
    • Topics: 9
    • Replies: 7
    • ☆

    Why lodgement is not entered in cash book while bank reconciliation

    September 23, 2020 at 4:05 pm #586471
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 54674
    • ☆☆☆☆☆

    Lodgements are always entered in the cash account as soon as the receipt happens (unless the bookkeeper has made an error).

    If the lodgement has not yet appeared on the bank statement, then it is only of the reasons for the cash account balance being different from the balance on the bank statement and therefore appears on the reconciliation.

    I suggest that you watch my free lectures on this. The lectures are a complete free course for Paper FA and cover everything needed to be able to pass the exam well.

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