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.