Bank Reconciliation Statement Explained | FULL EXAMPLE

In this accounting lesson, we go through the Bank Reconciliation Statement. We explain what the Bank Reconciliation is, why we do it, the reasons for the differences between the Bank Statement and the Bank account in the business' books, and what to do with outstanding cheques and outstanding cheques from last month's bank reconciliation statement that did not appear in this month's bank statement.

We also go through a thorough example on how to complete the Cash Receipts Journal (CRJ), the Cash Payments Journal (CPJ), the bank account in the general ledger and how to close it off, and how to complete the Bank Reconciliation Statement.

General Ledger (T Accounts) | Explained with Examples | Accounting Basics: https://youtu.be/3b4qFwLU3ZE

How to easily Remember DEBITS and CREDITS | Simple Tip: https://youtu.be/_AKoCgOlTcw

Accounting Equation Explained | Accounting For Beginners: https://youtu.be/0H506eq8DZQ

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