g if a check correctly written and paid by the bank for $442 is incorrectly recorded in the company's books for $380, how should this error be treated on the bank reconciliation?

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24-10-2022
Business

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g if a check correctly written and paid by the bank for $442 is incorrectly recorded in the company's books for $380, how should this error be treated on the bank reconciliation?

Answer :

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Parrain Parrain · Answer 1 · 2022-11-03T07:37:41-04:00

Based on the fact that the check was correctly written when paid by the bank, but the check was incorrectly recorded in the company books, the error can be treated by adding $62 to the book balance.

How to reconcile an incorrectly recorded check?

When a check is recorded incorrectly in books of the company, there would need to be a bank reconciliation that would see the difference in the check amounts being added or subtracted depending on the error.

If the check is recorded incorrectly but is lower than the actual amount as is the case here, the difference should be added to the book balance.

That difference is:
= 442 - 380

= $62

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