In a bank reconciliation,there might be items which have been recorded by the company that have not yet been recorded by the bank.Examples of such items would include:

Question

Quizplus · Accepted Answer

Deposits in transit are payments received by the company but have not yet been recorded by the bank. This can happen when the company has made the deposit after the cut-off time for the bank's processing or when the deposit is delayed due to weekends or holidays. NSF cheques, bank collections, and bank service charges are already recorded by the bank and should be included in the reconciliation.

In a Bank Reconciliation,there Might Be Items Which Have Been