What are the sequence of steps to complete bank reconciliation:
A)Accounting Reports Recommended Reports Journal Entry.
B)Gear Audit Log Account and Settings.
C)Accounting Chart of Accounts 101 Checking Reconcile.
D)All.
E)None.

Question

What are the sequence of steps to complete bank reconciliation:
A)Accounting > Reports > Recommended Reports > Journal Entry.
B)Gear > Audit Log > Account and Settings.
C)Accounting > Chart of Accounts > 101 Checking > Reconcile.
D)All.
E)None.

Quizplus · Accepted Answer

The correct sequence of steps to complete bank reconciliation is to go to Accounting > Chart of Accounts and select the bank account you need to reconcile (in this case, 101 Checking). Then click on the "Reconcile" button and follow the instructions to enter the ending balance, compare transactions, and mark them as cleared. This process will help you identify any discrepancies between your records and the bank statement, and adjust your accounting accordingly. The other options mentioned (A, B, D, E) are not relevant to bank reconciliation or may cause confusion if used.

What Are the Sequence of Steps to Complete Bank Reconciliation