Businesses need to be very meticulous with their financial accounts as these reflect the health of the company. Hence, the company needs to have the various financial structures and measures that uphold the recording of transactions and finances accurately for accountability and tax purposes.
Bank ledger is one such measure that records the financial transactions received by the company in the forms of check payments. It registers the financial difference between the bank balance and the company’s accounting records.
The differences occur out of checks that have not be submitted to the bank, credits not recorded into the company’s accounting records or recording errors by either bank or company.
The bank ledger template can record some of the checks’ information such as check number and amount with other particulars, such as customer name, or purpose of check.
It can also register the deposit and withdrawal of the checks made to the bank with the date of transaction with a balance in the company’s accounting record.
This type of recording will allow the financial personnel to track the check payments and the bank total for the company.
The bank ledger template may contain:
* Check number
* Check amount
* Particulars of check
A lot of relevant financial information is recorded on the bank ledger so that the company can keep track of how the transaction payments in check forms have been recorded.
Consider the attached sample template for your convenience.