Internal controls are steps taken to protect assets and keep reliable records. The bank reconciliation is an important internal control.
Describe the internal controls used to protect cash.
Describe the forms needed to open and use a checking account.
Record information on check stubs.
Prepare a check.
Prepare bank deposits.
Reconcile a bank statement.
Journalize and post entries relating to bank service charges.
Describe the uses of the electronic funds transfer system.