Cash Reconciliation Assignment Example | Topics and Well Written Essays - 250 words

Cash Reconciliation - Assignment Example This error will result to the bank statement having highest figure as compared to the cash account by $ 150. This error is reconciled by adding the $ 150 to cash account. The third error the bookkeeper recorded a payment of $ 250 as $ 25 from customer, but the bank noticed the error and deposited the right amount. With this error the bank statement will reflect a high balance than what the cash account reflects. This error can be reconciled by the bookkeeper adding $ 225 which is the difference of she received and what she recorded. The fourth error was committed by the bank when they were clearing a check of $ 255 but instead cleared $ 225. This error will result to the bank statement reflecting a higher balance as compared to what is being reflected on the company’s books of account. This can be reconciled by the bookkeeper adding the difference of $ 25 to the cash account. The fifth error the bookkeeper wrote a check of $ 369 but recorded $ 396. This will have an impact on the cash account since it will reflect a lower balance to that reflected by the bank statement. This error can be reconciled by adding the difference of $ 27 to the cash