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متابعة

In preparing a bank reconciliation, a service charge shown on the bank statement should be ?

a. added to the balance per the bank statement b. deducted from the balance per the bank statement c. added to the balance per the depositor’s records d. deducted from the balance per the depositor’s records

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تم إضافة السؤال من قبل SREEDEVI SUNILKUMAR , Business finance officer , Emirates Airline
تاريخ النشر: 2014/04/13
Muhammad Akram Shahzad Mughal
من قبل Muhammad Akram Shahzad Mughal , Assist. Manager Inventory & Warehouse , KahrPlast Co.

Because the bank service charges have already been deducted on the bank statement, there is no adjustment to the balance per bank. However, the service charges will have to be entered as an adjustment to the company's books. The company's Cash account will need to be decreased by the amount of the service charges.

Mohammad Ali
من قبل Mohammad Ali , Accounts Officer ( Contract) , Bharat Pumps & Compressors Ltd Naini Allahabad

Balance as per bank statement **** Add : charges has been deducted but not recorded in bank book. Opinion (A)

Muhammad Ahsan
من قبل Muhammad Ahsan , General Accountant , Emirates Hospitals Group

d. deducted from the balance as per depositor's record.

MOHAMMED IFTHEKAR  AHMED
من قبل MOHAMMED IFTHEKAR AHMED , Group Accounts Director , Golden Group Holding LLC

Bank can charge a service fee based on the type of facility and contractually agreed by business at the initiation of the account. Banks cannot charge any fee on adhoc basis unless its mentioned in the contract. Hence first check the contract and in case you are still not clear check with your relationship manager about the charge , get clarifications , if its within the contractual terms and conditions , check the calculation and if correct account it in your books. In case the bank has wrongly charged any fee please write to bank to reverse the charge. Please note that banks do commit mistakes which we Accountants as custodian of business financial transactions should protect business from such loss. 

Ayyub khan Ibrahim Khan Deshmukh
من قبل Ayyub khan Ibrahim Khan Deshmukh , Finance Manager , Ahmad Al-Sarraf General Trading & Contracting Est.

To be deducted from Depositer record

Subash Thomas
من قبل Subash Thomas , Manager- Internal Audit. , Confidential Company

Option D. Deducted per the depositors record. It is presumed that the service charge in the bank statement is an expense for the depositor and is not reflected in his records. His records may be showing a deposit balance from where the service charges not deducted. By doing the reconciliation, this has to be deducted to arrive the correct balance.

Ahmed Fikry Ibrahim Sallam
من قبل Ahmed Fikry Ibrahim Sallam , Senior Accountant , Fcc Aqualia

B.deducted from the balance per the bank statement 

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