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A company should verify that the amounts recorded in their General Ledger Cash account and any other non-cash accounts (i.e., Credit Card Payable, Investments, etc.) are consistent with the amounts on the bank statement by performing a monthly bank reconciliation.  

General Ledger Guide: Bank Reconciliation


Note: The process of performing the Bank Reconciliation can result in recognizing the need to add and post additional Vendor Invoices and Payments, and Customer Payments. You may want to review your bank statement prior to beginning your month-end processes in order to minimize the number of items that need to be added during the Bank Reconciliation process. 

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