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Bank reconciliation processQuestion What is the best process to use to reconcile my bank statements?
Answer You should reconcile your cash account records with the statements you receive from your bank every month. Here is a classic set of steps to use.
1. Identify the closing balance from the bank statement 2. Add recent deposits not shown on the statement 3. Subtract recent checks not shown on statement 4. Record any bank charges or credits and adjust your records 5. Compare the balances which should now agree 6. Reconcile any differences. 
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