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Download bank reconciliation template in Microsoft Excel format.
How to Use a Bank Reconciliation Template
Do you need a bank reconciliation form to help you keep track of checks you have written, record deposits and withdrawals and make sense out of the various bank fees and charges? Do you want to ensure that your check register balances and that the figure you derive at is the same figure that appears on your monthly bank statement? If so, you’re probably a perfect candidate for a bank reconciliation template. In this article we will briefly go over the purpose of a bank reconciliation template and provide a few helpful hints as to how you can use one of these programs to organize your finances.
The Bank Reconciliation Template at a Glance
A bank reconciliation template is a pre-made form that helps you keep track of your income and debits. It is an invaluable tool that can give you a quick glance of your finances before your monthly bank statement arrives and can furthermore help you avoid overdrawing your account and being subjected to astronomical bank fees and non-sufficient funds charges.
Using a template for this purpose allows you to use the same form month after month, saving you the time of writing each and every transaction out by hand. All you do is enter in the information for a given month, and then either save or print it. Once you’ve done this you can wipe out the data you have entered and start anew on the next month’s entries.
How to Use a Bank Reconciliation Template
There are a few steps that are involved when using one of these reconciliation statements. These are highlighted below:
• Update your check register. In your check register—the form that comes included with your checkbook—be certain you have entered all of your withdrawals and deposits. These can be either inside the bank transactions or transactions using the ATM. Make sure to include any bank fees and charges. After you have completed this step and balanced your register, deduct the amounts of all the checks you have written to come up with an ending balance.
• Compare. The next step you will want to take is to compare your check register to your monthly bank statement. Be sure to mark off all of the checks that have cleared, and if you find an item you have missed, write these items at the bottom of your register and deduct them from the ending balance.
• Filling out the template. At the top of your bank reconciliation statement, jot down the ending balance that is reflected on your bank statement. Now add in any deposits or withdrawals that have occurred since the bank statement is issued. Once these amounts are entered, the template will automatically do the calculations, update and show you a final adjusted balance.
Using a bank reconciliation template is one of the easiest and most efficient ways to organize your deposits and withdrawals. These forms will save you the hassle of adding and subtracting all of these items by hand, and because it uses a calculator to do the arithmetic, the template is always accurate.