Talk:Bank reconciliation: Difference between revisions
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'''How to reconcile bank statement with your cash book''' |
'''How to reconcile bank statement with your cash book''' |
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Reconciliation means adjustment. And adjustment doesn't mean correction in terms of accounting. To reconcile bank statement with your cash book, at first the thing you have to do is to identify why the balance varies with your cash book. The occurrences are alike (i.e.) you have issued a check of $100 on 10st January 20X9 to your creditor named 'X' so that he can collect money from your bank account. But what happens is that he has collected money on 25 January in the same year. If you ask bank to give a statement of your transaction happened since 1st Jan. in the same year, so what bank does? Bank doesn't undercast your account of $100 as Mr. 'X' haven;t, till now, presented the check to bank. At this situation to reconcile the bank statement, asked by you, with your cash day book you have to deduct the amount of $100. However I will discuss this in details later. |
Reconciliation means adjustment. And adjustment doesn't mean correction in terms of accounting. To reconcile bank statement with your cash book, at first the thing you have to do is to identify why the balance varies with your cash book. The occurrences are alike (i.e.) you have issued a check of $100 on 10st January 20X9 to your creditor named 'X' so that he can collect money from your bank account. But what happens is that he has collected money on 25 January in the same year. If you ask bank to give a statement of your transaction happened since 1st Jan. to 20 Jan. in the same year, so what bank does? Bank doesn't undercast your account of $100 as Mr. 'X' haven;t, till now, presented the check to bank. At this situation to reconcile the bank statement, asked by you, with your cash day book you have to deduct the amount of $100. However I will discuss this in details later. |
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Revision as of 20:07, 16 March 2011
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"Literary" Reference=
We shouldn't discuss irrelevant topic, should we? —Preceding unsigned comment added by 122.169.9.149 (talk) 10:44, 16 July 2010 (UTC)
Securities
I created the "Securities Reconcilement" section tonight as it differs from Banking reconciliation and is where I spend the majority of my time while at work. My motivation was that I had trouble finding information about the discipline before taking the position, so I hope to solve that by adding information to Wikipedia.
Two questions:
- Should this be listed on a separate page?
- Is it appropriate to include software systems for reconciliations?
Hi there,
Working on the matter too, shall we team up ? —Preceding unsigned comment added by 82.239.103.172 (talk) 05:19, 30 May 2008 (UTC)
hello,
i am working on the bank reconciliation —Preceding unsigned comment added by 196.3.181.104 (talk) 23:18, 19 July 2008 (UTC)
This should be moved out of bank reconciliation as it is a separate topic.
Securities Reconciliation
Similar to the process of verifying that bank accounts are in agreement, Custodian banks who hold securities for clients must also verify that the count of securities held at the bank matches the client's account(s).
There are many different types of security reconciliations, such as between an investment manager and the Custodian bank, Fund Accounting or between the Custodian bank and a depository (such as Euroclear or The Depository Trust Company)
Security reconciliations are usually either positional or transactional in nature. In both cases, the reconciliation is frequently conducted at the security identifier level, such as CUSIP, ISIN, or SEDOL.
In a positional reconciliation, the shares are counted between two parties and compared. If the counts match, then the position is said to be in balance. If the positions do not match, then it is considered "out of balance", also referred to as a "break".
In a transactional reconciliation, only the changes from transactions are applied to accounts. The reconciliation occurs by matching offsetting transactions between the two sides of the reconciliation. If a transaction cannot be properly matched with its counterpart, it is left open and referred to as an "exception".
A transactional reconciliation can be more accurate when trying to resolve exceptions. In a positional reconciliation, the only fact known is that the positions do not agree; in a transactional environment, all of the details are available to allow for more granular research.
In some locations, reconciliations are required for regulatory reasons.[1]
Most positions are reconciled daily to reduce risk, though for situations where positions are illiquid or traded less frequently (such at OTC Derivatives), they might be reconciled weekly or monthly. —Preceding unsigned comment added by NilssonDenver (talk • contribs) 23:30, 23 October 2009 (UTC)
Last edit
Please feel free to discuss my last edit, and/or improve the formula entered. sulmues (talk)--Sulmues 22:15, 2 February 2010 (UTC)
How to reconcile bank statement with your cash day book
how can i reconcile my finacial records with the bank statement? —Preceding unsigned comment added by Kadogo-medi (talk • contribs) 10:08, 9 August 2010 (UTC)
How to reconcile bank statement with your cash book
Reconciliation means adjustment. And adjustment doesn't mean correction in terms of accounting. To reconcile bank statement with your cash book, at first the thing you have to do is to identify why the balance varies with your cash book. The occurrences are alike (i.e.) you have issued a check of $100 on 10st January 20X9 to your creditor named 'X' so that he can collect money from your bank account. But what happens is that he has collected money on 25 January in the same year. If you ask bank to give a statement of your transaction happened since 1st Jan. to 20 Jan. in the same year, so what bank does? Bank doesn't undercast your account of $100 as Mr. 'X' haven;t, till now, presented the check to bank. At this situation to reconcile the bank statement, asked by you, with your cash day book you have to deduct the amount of $100. However I will discuss this in details later. By Sabbir Ahmed — Preceding unsigned comment added by Sabbirahmed (talk • contribs) 15:58, 16 March 2011 (UTC)