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4.3
70 reviews

Excel Accounting 5–Bank Reconciliations-Month 1 & 2

Learn how to put together a bank reconciliation using Excel from a Certified Public Accountant (CPA)
33,303 Students enrolled
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This course will focus on creating bank reconciliations after two months of financial data was entered into an accounting system using Excel.

For most new steps in the process, you will have access to a downloadable Excel Workbook containing at least two tabs, one with the answer, the new steps completed, the other starting where the prior presentation left off.

We will create a bank reconciliation for the first and second months.

The bank reconciliation process is one of the most important internal controls over the accounting system and also one of the most misunderstood and poorly taught procedures.

Most people think a bank reconciliation’s purpose is to double-check the ending balance of cash, and it is, in part. However, we are also verifying all the transactions that have involved cash, both increases, and decreases.

Because cash is the lifeblood of the business and because every transaction will impact at least two accounts, due to the double entry accounting system, verifying cash transactions also provides a huge internal control over the rest of the accounting system, including the revenue cycle, the expenses cycle, and the employee cycle.

Most textbook problems will teach the bank reconciliation process without providing a bank statement, which can be confusing. We will give an example bank statement we will use to perform our bank reconciliation process.

As we construct our bank reconciliation, we will discuss how accounting software, like QuickBooks, lays out the bank reconciliation process.

We will also discuss some of the problems often faced when entering the first bank reconciliation.

How long do I have access to the course materials?
You can view and review the lecture materials indefinitely, like an on-demand channel.
Can I take my courses with me wherever I go?
Definitely! If you have an internet connection, courses on Udemy are available on any device at any time. If you don't have an internet connection, some instructors also let their students download course lectures. That's up to the instructor though, so make sure you get on their good side!
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Course details
Video 2 hours
Certificate of Completion

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