Preparation of bank statement
There are three methods as follows to prepare a bank discrepancy statement
1. Actual balance
2. Balance according to the books
3. The balance according to the bank statement
1) Reaching the actual balance:
In this type of discrepancy, the goal is to obtain the real (correct) balance of the bank account or bank statement. In this regard, one of the balances is given in the question and based on the explained items, the necessary adjustments are applied and the correct balance of the bank account or bank statement is calculated as follows:
We write the correct balance of the bank account at the beginning of the right side of the bank discrepancy statement and the correct balance of the bank statement at the beginning of the left side of the bank discrepancy statement.
In the case of open (contrary) items, except for mistakes, we act as follows:
A: We add the open credit items of the bank statement to the correct balance of the bank account and subtract the open debit items of the bank statement from it.
B: We add the open debit items of the bank account to the correct balance of the bank statement and subtract the open items of the bank account credit from it.
Regarding mistakes, we act on a case-by-case basis, that is, we correct each mistake in its own part, in other words, we correct the effect of the accountant’s mistakes on the right side of the discrepancy, and we correct the effect of the bank employee’s mistakes on the left side of the discrepancy.
After completing the above steps, the final number on the right and left side of the bank statement should be equal. This number will be the actual balance of the account and the bank statement. In order for the balance of the bank account in the other offices of the institution to reach the same number, we have to make corrective registrations. Only for the cases that are recorded on the right side of the bank discrepancy form, we make a correction record and transfer it to the relevant accounts so that finally the balance of the bank account in the institution’s offices also reaches the actual balance. Regarding the cases registered on the left side of the bank discrepancy form, the registration is not done in the offices of the institution, and we only inform the bank of the bank employee’s mistakes so that they can correct them.
2) Balance according to books;
In this type of discrepancy, the goal is to obtain the balance of the bank account (the balance according to the books). In other words, the goal is not to determine whether the performance is right or wrong, but the criterion and owner is the company’s performance and everything the company has done is right. In this case, if the bank has done something contrary to that, it should correct the account statement and the bank’s performance should be in line with the company’s performance. In this type of questions, the balance of the bank account is asked and the balance of the bank statement is given in the question.
3) The balance according to the bank statement:
In this type of discrepancy statement, it is the same as the balance discrepancy statement of the bank account, with the difference that; The bank’s performance is the basis and criterion of whether the performance is correct or incorrect. In other words, everything the bank has done is correct. In this case, if the company has done something contrary to that, it should correct the bank account and the company’s performance should be in accordance with the bank’s performance. In this type of question, the balance of the bank account is given in the question and the balance of the bank statement is asked.