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Bank Reconciliation Calculator

The Bank Reconciliation Calculator allows you to explain the difference between the bank balance shown in a bank statement and the corresponding amount shown in your own accounting records.

Bank Reconciliation Calculator
Balance From Your Check Register
Ending Balance Shown on Your Statement
Total Deposits
Total Withdrawals
Bank Reconciliation Calculator Results
Adjusted Ending Statement Balance
Statement

What causes differences in balance on Bank Reconciliation?

It is not unusual for their to be discrepancies in the balance when completing bank reconciliation calculations, particularly in businesses with multiple transactions. Typically, balance discrepancies are caused by:

  • cheques issued/received which have not been presented to the bank or cleared into the account balance
  • banking transaction(s)including credit received/ charge made by the bank, which has not yet been recorded.
  • Banking errors - transaction(s) not recorded or recorded incorrectly
  • Accounting error - transaction(s) not recorded or recorded incorrectly

Completing regular Bank Reconciliation calculations ensures that accounting audits are easier and any discrepancies which may occur are easier to identify and rectify.

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