Reconcile bank statements.
DefinitionReconciling bank statements should include matching checkbook register with the bank statement and online account data. Proper procedures should be followed to locate and correct any identified differences.
Other Related Standards
Economics and Personal Finance Standards of Learning
The student will demonstrate knowledge of banking transactions by
- comparing the types of financial institutions;
- examining how financial institutions affect personal financial planning;
- evaluating services and related costs associated with personal banking;
- differentiating among types of electronic monetary transactions;
- preparing all forms necessary for opening and maintaining a checking and a savings account;
- reconciling bank statements;
- comparing costs and benefits of online and traditional banking; and
- explaining how certain historical events have influenced the banking system and other financial institutions.