Bank Reconciliation Calculator

Effortlessly reconcile records with our Bank Reconciliation Calculator. Quickly spot discrepancies, errors, missing transactions. Ensure accuracy. Simplify now!

Unreconciled Difference Formula

$19300 - $16100 = $3200.John invested $19300 in his retirement fund, but then withdrew $16100, resulting in an unreconciled difference of $3200. The unreconciled difference represents the amount John needs to reconcile with his bank's records due to the withdrawal.

Adjusted Book Balance Formula

$6500 + $15900 + $2300 - $19700 - $1200 - $1400 = $2400.Tom's business has an adjusted book balance of $2400, which represents the net value of his accounts after considering the cash book balance ($6500), interest earned ($15900), receivables ($2300), automatic bank payments ($19700), bank charges ($1200) and NSF cheques ($1400).

Adjusted Bank Balance Formula

$5800 + $6100 - $7400 = $4500.Tom deposited $6100 into his bank account, but due to unpaid cheques, he had $7400 deducted from his balance. As a result, Tom's adjusted bank balance is $4500. The result of $4500 represents the final amount Tom has in his bank account after considering both the deposit and the deduction of unpaid cheques.

Meaning

Bank Reconciliation is the process of comparing and matching the balances in an organization’s general ledger with those shown on its bank statements. This procedure helps identify discrepancies, such as errors or omissions, ensuring that all transactions are accurately recorded and accounted for. Regular bank reconciliation reduces the risk of financial mistakes and helps maintain the integrity of the organization's financial records.