Bank Reconciliation Book Error Journal Entry

In each case the bank reconciliation journal entries show the debit and credit account together with a brief narrative.

Bank reconciliation book error journal entry. Errors or omissions in the cash book can lead to a difference between the balance as per bank statement and the balance as per cash book. Go to the line right below it in the journal indent the entry slightly then write the account name affected by the error and credit the amount of money involved. The bank reconciliation journal entries below act as a quick reference and set out the most commonly encountered situations when dealing with the double entry posting relating to bank reconciliation adjustments.

Some differences in cash book and bank statement may be the result of errors committed by the bank or by the person responsible for writing up cash book. Likewise a deposit or withdrawal be erroneously recorded twice by the bank. Errors or omissions by the bank can lead to a difference between the balance as per bank statement and the balance as per cash book.

For instance bank may incorrectly record the deposits or withdrawals of another account into the company s bank account. These errors have to be properly rectified. For instance an entity may incorrectly record the bank deposits or withdrawals in another accounting ledger or it may record the entry by a wrong amount.