BOSAS
BANK
RECONCILIATION
PROPERTY OF PIMA COUNTY JTED, 2010
In the box provided, what do you think
the term bank reconciliation statement
means?
1. Define vocabulary related to bank
statements.
2. Prepare a reconciliation of a bank
statement.
3. Record a bank service charge.
1. Define vocabulary related to bank statements.
2. Prepare a reconciliation of a bank statement.
3. Record a bank service charge.
Bank statement – a report of deposits,
withdrawals, and checking account balances sent
by the bank to the account holder on a monthly
basis
Bank reconciliation statement-a statement
that balances your check stub record or check
register with the bank’s statement
Even though it is rare for a bank to make
mistakes, it is important to check the
bank statement.
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The business might not have
recorded a service charge.
There may be outstanding deposits.
There may be outstanding checks.
There may be math errors.
Reconciliation verifies that information in
the bank statement and in the checkbook
are in agreement.
Ex. reconciliation:
 Steps 1-10 for Reconciliation
1.
2.
5.
6.
3.
7.
8.
4.
9.
10.
Steps 1-10 for Reconciliation
1. Write the date in the top right
2. Write the balance from next unused check
stub
3. List bank charges and label them “sc”
4. Write the adjusted check stub balance
5. Write the ending balance from the
statement
6. Write date/amount of outstanding deposits
7. Subtotal of deposits and statement balance
8. Write Check No./amount of outstanding
checks
9. Calculate subtotal minus outstanding checks
10. Compare the 2 adjusted balances. If they
are different the error must be found.
2.
3.
5.
3 steps:
1. Write service charge under other
2. Write the amount
3. Calculate new subtotal
1,000.00
Service Charge 8.00
8.00
992.00
Now, you fill out a check stub for a service
charge of $15.00.
Exit Ticket:
On your exit ticket, list 4 of the steps to
reconcile a bank statement.
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Now it’s your turn!
Given a bank statement for
Big Tom’s Truck Stop,
complete a reconciliation, and
then fill out a check stub for the service
charge on the forms
provided on your handout.
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BOSAS
ELECTRONIC
BANKING
PROPERTY OF PIMA COUNTY JTED, 2010
In the box provided, write 3 sentences
explaining why you think doing
banking online and using debit cards
have become very popular recently.
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1. Define accounting vocabulary related
to electronic banking.
2. Record and journalize a dishonored
check.
3. Journalize an electronic funds
transfer.
4. Journalize a debit card transaction.
Define accounting vocabulary related to
electronic banking.
Record and journalize a dishonored check.
Journalize an electronic funds transfer.
Journalize a debit card transaction.
Dishonored Check – a check that the bank
refuses to pay.
Electronic Funds Transfer – a computerized
transfer of money from one account to another.
Debit Card – a bank card that automatically
withdraws money from a checking account.
Journalize – Enter (notes or information) in a
journal or account book
Reasons that a bank won’t honor a check:
1. There are insufficient funds in the account
2. The check appears to be altered
3. The signature doesn’t match the
signature card
4. The amount written in words and
numbers don’t match
5. The check is postdated
6. There has been a stop payment placed on
the check
1. Write “Dishonored Check” in other column. The amount
is $50 for the bad check and $30 for the bank fee.
2. Write the total in the amount column.
3. Calculate the new subtotal
*Now practice
one
on your own!
1.
2.
3.
1.
2.
3.
4.
Write
Write
Write
Write
the
the
the
the
date “30”
Debit Account Title and Amount
amount credited in cash column
source document M24 in Doc. No.
1.
3.
4.
2.
Now practice one on your own!
 An electronic funds transfer is a
transfer of money from one account
to another that is arranged through
the bank.
 It is journalized similar to writing a
check but has a source document of a
memo instead of a check.
 It is important to remember to record
your EFT on your check stub to keep
your records accurate. It is recorded
under the “other” category.
NO. 395$ ___________________________
Date
_______________________________________
To _________________________________________
____________________________________________
_
For________________________________________
_
============================
Bal. Brought Forward
$3,286.00
Amount Dep. ____________
___________
Date
Subtotal………………………
3,286.00
Other: EFT
$200.00 __200.00
Subtotal………………………
3.086.00
Amount for this check:
___________
Bal. Carried Forward…..
___________
1.
2.
3.
4.
Write
Write
Write
Write
the
the
the
the
date “4”
Debit Account Title and Amount
amount credited in cash column
source document M12 in Doc. No.
1.
3.
4.
2.
Now practice one on your own!
 The main difference between a debit card and a
credit card is that the when a purchase is made
with a debit card the purchase amount is
automatically taken out of the checking account.
 It is important to remember to record your
purchases on your check stub to keep your
records accurate. Debit card transactions are
recorded on the “other” line.
1.
2.
3.
4.
Write
Write
Write
Write
the
the
the
the
date “8”
Debit Account Title and Amount
amount credited in cash column
source document M42 in Doc. No.
1.
3.
4.
2.
Now practice one on your own!
 Exit Ticket:
On your exit ticket, for each of the four
transactions write which account is debited
and which one is credited.
1. Paid cash on account to
Big Trucks $365.00, using EFT
2. Received notice of dishonored
check from Perez Supply $132.00
3. Purchased supplies, $49.00,
using debit card
4. Received bank statement
showing Sept. service charge $9.00
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
1. Paid cash on account to
Big Trucks $365.00, using EFT
Accts. Pay. – Big Trucks /Debit
Cash/Credit
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
2. Received notice of dishonored
check from Perez Supply $132.00
Accts. Rec. – Perez Supply /Debit
Cash/Credit
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
3. Purchased supplies, $49.00,
using debit card.
Supplies/Debit
Cash/Credit
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
4. Received bank statement
showing Sept. service charge $9.00
Misc. Expense/Debit
Cash/Credit
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BOSAS
PETTY CASH
PROPERTY OF PIMA COUNTY JTED, 2010
In the box, describe what the word
petty cash means to you.
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1. Define vocabulary related to petty
cash.
2. Fill out a petty cash slip.
3. Replenish the petty cash fund.
1. Define vocabulary related to petty cash.
2. Fill out a petty cash slip.
3. Replenish the petty cash fund.
Petty Cash- cash that is kept by the business
for making small purchases
Petty Cash Slip- paper that keeps record of a
payment from the petty cash
 Petty cash is used for small cash
payments
 Rather than having someone write a
check for something small, it is easier to
have the person use petty cash.
Petty Cash Slip
No.
1
______________________________________________________
A petty cash slip includes:
Date: ____________Aug. 31, 2010__________________
1. Petty cash slip number
Paid to: ____________Valencia Co.________________
2. Date of petty cash paymentFor:______________Supplies_______________________
3. Who is being paid
Amount: _____________$40.00____________________
4. Reason for payment
Account: _________Supplies Expense___________
5. Amount being paid
==================================
6. Account where amount will be recorded
7. Signature of the person
Petty cash slips are kept in a box until the
fund is replenished.
 The petty cash fund must be replenished when it
gets low and at the end of the month to have
expenses recorded in the month they occurred.
 The check to replenish petty cash does not affect
the balance of the petty cash account.
 Petty cash must be reconciled before it is
replenished to verify the balance.
To reconcile, add the total of the petty cash
slips to the balance of petty cash remaining
and it should equal the beginning petty cash
balance.
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 1. Record the entry to establish petty cash for
$150 on
the 17th using Check #9.
2. Fill out petty cash slips for the following
purchases:
 August 20th, to The Daily Estrella for a newspaper
advertisement costing $25 (advertising expense)
 August 26th, to Thompson Co. for supplies costing $15
(supplies expense)
3. Record the entry to replenish petty cash on the
31s
using check #14.
 1 minute summary:
 On your handout, summarize the purpose
of the petty cash fund.
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BOSAS
44
3/14/2016
 Name some procedures for managing a
checking account.
Property of CTE Joint Venture
3/14/2016
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1. Execute procedures to manage a checking
account
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 Record debit transactions
 Record written checks
 Record deposits
 Record bank fees
 Write checks and fill out deposit slips
 Review end of the month bank statement
 Reconcile bank statement
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 You will be responsible for recording
transactions for approximately one
month, July 17 – August 29 of the
current year.
 The transactions are listed on the next
page. Checks, deposit slips, bank
statement, and reconciliation forms are
also found in this packet.
 There are also extra checks and deposit
slips as well. If you completely mess up
on a check, simply write VOID over the
entire check, and then use the extra
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ones.
 Remember to fill out your check register first
before you write a check, get an ATM
withdrawal, use of debit card, or make a
deposit.
 Fill out a deposit slip when a deposit is
made. This will need to be done in the
activity since Direct Deposit is not an option.
 When the bank statement arrives, reconcile
the statement with your register. There is a
form provided for you. Record any service
charges in your register as well. This should
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of CTE
Joint Venture
3/14/2016
49
be last entry for
this
assignment.
 In 25 words describe what you learned today
about managing a checking account.
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