Learn how to put together a bank reconciliation using Excel from a Certified Public Accountant (CPA)
β±οΈ Length: 1.9 total hours
β 4.38/5 rating
π₯ 40,347 students
π January 2022 update
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- Course Overview
- Unlock the critical financial skill of bank reconciliation with this practical, Excel-centric course.
- Gain foundational knowledge in reconciling financial statements, a cornerstone of accurate bookkeeping.
- This course is designed to guide you through the initial stages of financial record-keeping for a new business or a transitioning accounting department.
- Led by a Certified Public Accountant (CPA), you’ll benefit from expert insights and real-world application.
- With a high rating of 4.38/5 and over 40,000 students, this course has proven its value and effectiveness.
- Updated in January 2022, the content reflects current best practices in accounting software and reconciliation techniques.
- The efficient 1.9-hour structure allows for focused learning without demanding excessive time commitment.
- Navigate the complexities of early-stage financial statements with confidence and clarity.
- This program demystifies the bank reconciliation process, making it accessible even for those new to accounting principles.
- Learn to identify and resolve common discrepancies that arise when establishing financial records.
- Requirements / Prerequisites
- Basic familiarity with Microsoft Excel is recommended.
- No prior accounting experience is strictly necessary, though an interest in financial management is beneficial.
- Access to a working version of Microsoft Excel is required for hands-on practice.
- A willingness to engage with financial data and learn systematic problem-solving techniques.
- The ability to follow step-by-step instructions and apply them to practical examples.
- Skills Covered / Tools Used
- Excel Proficiency for Accounting: Master essential Excel functions and formatting relevant to financial statements.
- Bank Statement Analysis: Develop the ability to meticulously examine bank statements for accuracy and completeness.
- Transaction Identification: Learn to distinguish between company records and bank records, pinpointing variances.
- Discrepancy Resolution: Acquire techniques for identifying the root causes of differences between book balances and bank balances.
- Journal Entry Fundamentals (Implicit): While not explicitly taught, the course naturally leads to an understanding of when and why adjustments might be needed in accounting records.
- Spreadsheet Modeling: Utilize Excel as a dynamic tool for creating and managing reconciliation spreadsheets.
- Problem-Solving in Finance: Cultivate a systematic approach to troubleshooting financial data.
- Microsoft Excel will be the primary tool for all practical exercises and demonstrations.
- Benefits / Outcomes
- Enhanced Financial Accuracy: Ensure your company’s financial records accurately reflect its cash position.
- Fraud Prevention: Develop an understanding of how reconciliation helps detect unauthorized transactions.
- Improved Cash Management: Gain better insight into your available cash flow.
- Foundation for Future Learning: Build a solid understanding of a fundamental accounting process that is essential for more advanced topics.
- Increased Confidence: Feel more assured in your ability to manage and interpret financial data.
- Career Advancement Potential: Acquire a valuable skill that is in demand across various industries.
- Efficient Record-Keeping: Streamline your accounting processes for greater efficiency.
- Clear Understanding of Financial Statements: Grasp the connection between bank transactions and the broader financial picture.
- Practical, Actionable Skills: Leave with the ability to immediately apply what you’ve learned to real-world scenarios.
- PROS
- Taught by a CPA: Credibility and expert guidance from a seasoned professional.
- Practical Excel Focus: Directly applicable skills using a widely used software.
- Beginner-Friendly for Early Months: Ideal for those starting out or in the initial phases of financial operations.
- High Student Satisfaction: Proven effectiveness and positive user experience.
- Concise and Efficient Learning: Short duration maximizes learning per hour.
- CONS
- Limited to Initial Months: Primarily focuses on Month 1 and 2, may require further courses for advanced reconciliation scenarios or longer historical periods.
Learning Tracks: English,Finance & Accounting,Accounting & Bookkeeping
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