Looking for easy way to reconcile your account? Here in this post, I will discuss regarding balance sheet account reconciliation with compare to the general ledger.
Let’s start with some example of creating the financial statement.
Eliminate your accounting errors and remain stress-free with premium quality yet free. Generally, accountants keep track of the payments and they are frustrated to know if the balance differs in the company account while the balance varies in the customer book.
Appropriately you can keep your accounts books and balance sheet error-free with this sheet. Moreover ensuring you have recorded and represented each transaction in your business– and connected with the best resource available.
Your all bank transaction with salary sheet or other keeps it safe with this template.
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Template Name:- Balance Sheet File Name & Size:- 43KB Type:- XLSX Sort:- Blank
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Accounts Reconciliation Formula
As a student and need some example for completing your reconciliation assignment then must keep this formula for completing any company financial statement and revenue management statement.
Balance per Bank Statements + Deposits in Transit – Outstanding Payments = Balance after Account Reconciliation
Do you know our accounting report records Assets and Liabilities and also Owner’s Equity? You are able to differentiate Resources and assets! Do you know about the components of the balance sheet? Your business may have weak areas, so it’s imperative to switch to excel template and leave manual recording practice!
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Collecting relevant account data like invoices
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Checking account balances, correcting these balances
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Finding discrepancies
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Controlling policy to prevent discrepancies
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BALANCE SHEET ACCOUNT RECONCILIATION TEMPLATE
Download this excel spreadsheet in a single click. Learn about it in more details by going through this blog post:
General information
Get started by filling up header section. It comprises of, date, account number, GL account number, account purpose, prepared by, received by and date for both of them here.
** GL stands for general ledger here!
Balance per sub-ledger or detail
Over with the header section, now start filling the body part of the template.
- Enter adjustments to the sub-ledger and descriptions for all of the components.
- Descriptions must be entered between cells C16-C21.check G22 for total with the formula =SUM(OFFSET(G22,-1,-1,MATCH(B15,B$1:B$105,0)-ROW()+1))
- Now fill valid reconciling items in the cell F25, F26 & C27.
- G30 shows the total balance with formula =SUM(OFFSET(G30,-1,,MATCH(B13,B$1:B$105,0)-ROW()))
- Check the cell G32 for total with the formula =G30-N30
Table
- Now fill the final section of template. It comprises of Entry #, DR/CR, account #, account description, debit, and credit.
- Fill all of the details on the table and your balance sheet is error free!
General Ledger Accounts Reconciliation Template
It’s very important to keep record and reconcile statement with general and ledger accounts. To maintain your financial statement with reconciliation you must require a platform for manage these things, so this Excel template will help you to compare your balance sheet statement at the end of month or year with general ledger.
So using these steps before you can create own Balance Sheet Account Reconciliation Template, it’s little bit technical (Finance is always Technical subject).
In addition, so after downloading this template in excel you won’t need to find anything like formulas and checklist detail for resolving any company reconciliation statement with the balance sheet.