If you commonly make deposits into your account, you’ll want to compare your bank account deposit totals to those listed in your general ledger. There are times when the bank may charge a fee for maintaining your account, which will typically be deducted automatically from your account. Therefore, when preparing a bank reconciliation statement you must account for any fees deducted from your account. To reconcile your bank statement with […]

Content What Is a Topside Entry in Accounting? Control Activities Internal Controls in Accounts Payable FAQs What are Internal Controls in Accounts Payable? Accounting Principles I External links Trained in company policies and internal auditing duties, internal auditors periodically test the effectiveness of controls and procedures throughout the company. Financial reporting and system access reviews are important control activities required for external and internal audits. They provide assurance that operating […]