Bank Reconciliations Made Simple
Presenters : Doubt Moyo
Overview
Bank reconciliations are an essential tool for ensuring that a business’s cash records align with its bank statements, helping to detect discrepancies, errors, or even fraudulent activity. A proper reconciliation process not only ensures accuracy in financial reporting but also builds confidence in the organisation’s financial management.
Join Doubt Moyo (ACCA, ICTA) on 26 June 2025, from 10:00 to 11:30, as he simplifies the bank reconciliation process by breaking it down into clear, practical steps. He will demonstrate how to identify common discrepancies, adjust balances, and prepare a complete reconciliation statement with confidence.
Learning objectives
By attending this webinar you will gain the following competencies:
• Understand the definition, purpose, and importance of bank reconciliations.
• Identify common reasons for differences between bank statements and company cash records.
• Prepare a bank reconciliation statement accurately and efficiently.
• Recognise and adjust for common discrepancies such as deposits in transit, unpresented cheques, and bank charges.
• Apply a step-by-step process to reconcile cash book balances with bank statements.
Content
The webinar will cover the following topics:
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Introduction to Bank Reconciliation
o Definition and purpose
o Why reconciliation is important
o Frequency and timing of reconciliations -
Key Components of a Bank Reconciliation
o Opening balances: cash book vs bank statement
o Reconciling items (deposits in transit, outstanding cheques, fees, etc.)
o Adjusted balances -
Essential Documents to Gather
o Bank statements
o Cash book/ledger
o Cheque register and deposit slips
o Bank fee schedules and debit order mandates -
Step-by-Step Reconciliation Process
o Comparing cash book and bank statement
o Identifying and flagging discrepancies
o Adjusting bank and cash book balances -
Finalising and Documenting Reconciliation
o Completing the reconciliation statement
o Recording adjustments and journal entries
o Attaching supporting documentation and sign-off requirements -
Case Study: Ubuntu Traders Example
o Practical illustration of reconciliation with adjustments
o Ensuring final balances match
