From the course: MYOB AccountRight Essential Training
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Overview of reconciling cheque accounts - AccountRight Tutorial
From the course: MYOB AccountRight Essential Training
Overview of reconciling cheque accounts
The purpose of a bank reconciliation is to reconcile or match the business accounting records with the bank accounting records. This process should reveal any errors in either the business, the computer records, or the bank accounting records, the bank statement. The bank statement may be different to the business records. However, because of the time delay involved in the processing of checks and even deposits. The frequency of preparation of a bank reconciliation statement varies depending on the size of business. At the very least, this process should be completed at the end of each month. Carol processes this process at the end of each month. The bank statement may include bank charges and interest earned, but has not yet been included in the business records. These transactions must be entered into the data file. Another task that needs to be completed prior to the beginning of a reconciliation, is to clear any funds within the Undeposited Funds account into the regular check…
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Contents
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Overview of reconciling cheque accounts1m 34s
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Viewing the cash receipts1m 24s
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Preparing a bank deposit3m 12s
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Matching transactions in MYOB AccountRight against a bank statement3m 32s
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Bank charges and interest2m 10s
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Reconciling the cheque account1m 20s
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Printing the bank reconciliation report1m 19s
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