help unit 3

System
System Posts: 100,534 🤖 Admin 🤖
edited 10:23AM in AAT student discussion
Has any one done the unit three practice simulation through FTC<BR>I am stuck on reconciling the cash book against the bank statement <BR>when a cheque is on the bank statement but its from a previous month cash book do you take it off the bank statement total or add it to the cash book total ? <BR>confused <BR>

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  • System
    System Posts: 100,534 🤖 Admin 🤖
    help unit 3

    Hi there<BR><BR>I have just finished a practice simulation for Unit 3 but probably not the same one.<BR><BR>In general though any cheques appearing on your bank statement that relate to a previous area of your cash book you can ignore in your current bank reconcilliation. It shouldnt effect your current reconciliation as it would have been an unpresented cheque in the previous reconciliation.<BR><BR>Hope this makes sense.<BR><BR>Sharon
  • System
    System Posts: 100,534 🤖 Admin 🤖
    help unit 3

    As you have already recorded the cheque in the cash book you do not need to add it again.<BR><BR>On the previous month bank reconciliation to cash book you would have had the cheque as on outstanding payment. All you need to do is knock the cheque amount off the outstanding payment list on the current reconciliation.<BR><BR>Hope this helps<BR><BR>

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