Bank Reconciliation Statement In Excel Format

Bank reconciliation templates is very useful for banking sectors, mostly managers used excel format for prominent financial report.Penny adjustment is sometimes worth performing. In any mode of business, saving and keeping-the right record of financial transaction is the primary requirement. After the all sets of activities in your business, all you have to end up with are the sales of your product and services which are the basic source of revenue generation for your business.

We all know that money is the back bone of business and extending any mismanagement in your financial record keep can construct a bridge to failure. In business, hundreds of different transaction occurs in a day. There are certain transactions which involves banks. Some include direct cash dealings and some are based on bank medium checks.

While making any transaction through banks, there attains a certain record of your financial position and financial worth of your business in the bank which is called as bank statement of your account. Upon the making of huge business deals, majority of businesses prefer the cash transfers through banks. As banks are operated on computer oriented database systems and these systems are run through human employees. Same happens at the business end, where financial record keeping is solely performed by human employees too. So the chance of error and mismatching entries always remains there.

Microsoft Excel bank Reconciliation Statement Format

At the annual bases, banks and businesses tale their accounts and find out the mismatching sectors of records at both ends to adjust the financial mis-balance and fix any human error or entry rupture in the records. As if there are bases of a small error by short time intervals in the business, these short errors grow to large financial clashes in the records.

Companies can suffer huge losses due to it. So in order to stress out the money record and transactional database clear from misconceptions and rupture, annual financial errors are fixed and adjusted in a new statement which is known as Bank Reconciliation Report. It is the comprehensive adjustments of all the errors and operational flaws in the financial activities of business. In this statement, all the balancing debits and credits are mentioned with their propositional sides.

Bank Reconciliation Statement Format

Bank reconciliation statement has various patterns and formats according to the mode of business and its relevant operational financial and budgeting entries. Moreover, there are certain behaviors of adjustments according to the mode of activity in every business.

It is always better to make an excel spreadsheet to note down the fixed adjustments and rectify the business records from any confusion coming on the way, yet finding it difficult, there are many pre-designed and alterable templates statement are available on the INTERNET.

Example of BRS in Different EXCEL Format

Excel 2007 XLX


What are the motives of Bank Reconciliation Statement?

1- Mismatched figures of balance sheets at both ends

2- Improperly addressed entries at both ends

3- Non sufficient funds checks are faulty signed checks are also a cause of entry confusion as business records credit these checks while bank simply reject these transaction

4- Hidden service charges are also a major cause of fractional amount mismatch in financial records

5- Operator expenses are also a cause of figure mis-balance at both ends

There are various excel bank reconciliation statement templates are available on Net, you just make sure about the best suitable for your financial plan.

Cas Dave