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63.2 Reconcile Bank Statement to 30 June

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63.2.1 Unlike other times, at the end of a financial year you must reconcile bank statements to 30 June.

 

63.2.2 Where your bank statement period crosses the end of Financial Year (FY), draw a line on it under the last transaction dated 30 June and treat the statement as if it were two, one above the line and a second one below. Where a bank statement straddles the end of the FY, use the statement page number as a reference and where a page straddles the FY, refer to the top half as "A" and the bottom as "B" for example use 452A and 452B as references to the top and bottom of page 452 in the bank statement.

 

At this stage, reconcile only the first part of the statement, entering 30/6/2010 as the Bank Statement Date.

 

When this bank reconciliation to 30 June is complete you have your opening balances for next (this) Financial Year (FY 2010/2011).

 

63.2.3 For information on how to reconcile Bank Accounts, refer to "Performing a Bank Reconciliation" section in this Latitude How To Guide.