Entering data in sheet Data column M N (CUM., BANK RECON)

Entering Data In The CUM. AMOUNTS Column (Column M)

The formula in cell M2 is :
=IF(J2=J1,M1+L2,L2)

The purpose of this column is to find the cumulative amounts in column L. The cumulative amount should come to 0 (zero) when a complete double entry occur on column M, because logically, a debit entry amount in column M should be followed by a credit entry amount, thus Debit amont + Credit amount equals zero.

At end of data area in column M, the result should be zero. Zero indicate that double entry is correctly applied.

Entering Data In The BANK RECON Column (Column N)

In the BANK RECON column, state the month in which each amount of bank receipt and payment appear in the statement received from bank. For example, you can write 1, 2, 3 etc. or jan, feb, mar, etc

If the amount of Debit or Credit is not related to a bank account (and not subject to reconciliation), state NR (for Not Relevant or other term you want to use).

If the amount of Debit or Credit is related to a bank account (and subject to reconciliation), state open (until it is reconciled).

This column will help us prepare a Bank reconciliation statement.

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