How do I calculate the bank reconciliation report?
To calculate a Bank Reconciliation report, it is important to carefully review the receipts and payments listed in the report. Start by understanding the title, date, transaction type, statement number and miscellaneous amounts for each record. You can use programs such as Sourcetable to organize and calculate the data. To calculate the report,
subtract the total payment amount from the total receipt amount. This will give you the net amount, which can be compared to the balance shown in the bank statement to see if any discrepancies exist.