Accounts Reconciliation - Account Reconciliation Checklist

Account Reconciliation Checklist

Conventionally, a checking account reconciliation form is printed on the reverse side of your monthly statement, making it stress-free to reconcile the ending balance with checks still outstanding to know your definite balance at any time. With online banking and e-Statements, this require to reconcile is still there.

End of Year Checklist and Detailed Procedures

  • Back up your data file formerly entering any end of year adjustments.
  • Reconcile your accounts
  • Reconcile your Bank account.
  • Reconcile your Accounts Receivable.
  • Reconcile your Accounts Payable.
  • Reconcile your Inventory - (Before processing any July transactions).
  • Reconcile your GST control accounts (GST Collected and GST Paid).
  • Analysis your accounts and reports.
  • Offer information to your accountant and enter any end of year adjustments.
  • Back up your data file after entering any end of year adjustments.
  • tart a New Financial Year.

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