 Show by Anil Lalwani , Finance Manager , Petroleum Mechanical Trading Co. Following are some of the causes because of which the balance on the bank statement differ from the cash balance on the books:
by
Vivekanand Bhoga , Financial Controller , HBL Power Systems Ltd., 1. Being the cheque(s)issued but not presented by the customers 2. Being the cheque(s) deposited but not credited. 3. Interest / bank charges /bill discounting / LC charges etc are debited by bank are not accounted by us.. 4. Interest received / credited against our deposits / securities are not accounted by us. 5. Interest on overdrafts & BG's etc charged by banker and not accounted by us. errors on the books, errors by the bank, electronic charges on the bank statement not yet recorded on the books, and electronic deposits on the bank statement that are not yet recorded on the books. by Yusuf Amod , Senior External Auditor , Ernst & Young Bank charges such as monthly management/service fees The following are some of the reasons but not limited to: From the Bank Statement/ Cash book - Bank charges - Wrong debit / credit on account - Uncredited cheques paid in and unpresented cheques by clients - Error of principle, where wrong posting have been done to cash book - Returned/dishonoured cheques - Credit interest Just to mention a few... following are the factors that may cause a difference on the bank statement and the cash balance on the book
by Mohamed Jamal , Accounting Manager ,
Mouwasat Medical services These are the Cases : * Checks Or transfers Happened By your company and still not presented in Bank . * Some charges by the bank or even checks or transfers not presented in your books . * any deposits happened by the bank not presented or recorded in your books . * Mistakes in bank or In your Side Wrong transfers in bank statements (B/S), direct debit of charges in B/S, clearing procedures, transmission/transcription errors on books, non-posting of any transaction on books, any foreign currency translation difference. by
akhyar akhyar , general accounting , pt.agri wangi indonesia 1.there is any transaction still not writen in cash book but in the bank of book is recognized it 2.expense of the interest and interest income still not recognized it in the cash book but its recognize as the income and expense in the bank of books. it must be take attention when you input the data of the transaction in the cash of book you must completed of the evidence transaction such as : voucher, Purchasing Order,Delivery order,Invoice and receiving notes. it has any objective to control your cash and so that there is no fraud and deception in your book cash. by Abakar Abdelkerim , Oilfield Camp Management & Transport Dispatcher , CNPC The main reasons causes the difference are; -Outstanding checks -Deposits in transit Bank service charges, check printing charges, errors on the books, errors by the bank, electronic charges on the bank statement not yet recorded on the books, and electronic deposits on the bank statement that are not yet recorded on the books. Some reasons that cause the difference of the books balance from the bank balance would be bank/service charges, interest earned, and book errors, if any. Whereas for the difference of the bank balance and book balance would be outstanding checks, deposit in transit and bank errors, if any. Popular SearchesWhat is difference between cash book and bank book?What are the differences between a Cashbook and a Bank book? A cashbook records the cash and bank transactions of an organisation that takes place within a financial year. A bank book is issued to the account holder by their bank and it keeps a record of deposits and withdrawals.
What are the differences between bank column of cash book and bank statement?What is the difference between cash book and a bank statement? Cash book is used to record all transactions for cash, checks, money orders, or postal order while a bank statement is the list of entries to each account holder that have been made in their personal account.
Is a process that gives the reasons for differences between the bank statement and cash book maintained by a business?Reconciliation of the cash book and the bank passbook balances amounts to an explanation of differences between them. The differences between the cash book and the bank passbook is caused by: timing differences on recording of the transactions.
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