Bank Reconciliation Interview Preparation Guide Download PDF
Bank reconciliation job interview questions and answers guide. The one who provides the best Bank reconciliation answers with a perfect presentation is the one who wins the interview race. Learn Bank Reconciliation and get preparation for the job of Bank reconciliation
24 Bank Reconciliation Questions and Answers:
1 :: Explain the reasons which cause pass book of the bank and your bank book not tally?
* Cheques deposited into the bank but not yet collected
* Cheques issued but not yet presented for payment
* Bank charges
* Amount collected by bank on standing instructions of the concern.
* Amount paid by the bank on standing instructions of the concern.
* Interest debited by the bank
* Interest credited by the bank
* Direct payment by customers into the bank account
* Dishonour of cheques
* Clerical errors
* Cheques issued but not yet presented for payment
* Bank charges
* Amount collected by bank on standing instructions of the concern.
* Amount paid by the bank on standing instructions of the concern.
* Interest debited by the bank
* Interest credited by the bank
* Direct payment by customers into the bank account
* Dishonour of cheques
* Clerical errors
2 :: What are the important things to be remembered while preparing a bank reconciliation statement?
While preparing a bank reconciliation statement following important points need to be remembered:
* Bank Reconciliation Statement is prepared either by starting with the Bank pass book balance or Cash book balance.
* If the balance of the Cash book is taken as a starting point then Cash book balance is to be adjusted in accordance with the entries passed in the Bank pass book and vice versa. For example: If the balance is taken as per the Cash book then the following items will be added:
* Cheques issued but not presented for payment;
* Amount credited in Passbook but not in Cash book;
* Deposits made in the bank directly;
* Wrong credits given by bank;
* Interest credited in the Passbook.
The following items will be subtracted:
* Cheques deposited but not cleared;
* Interest/Bank Charges debited by bank
* Direct payments made by bank not entered in Cash book
* Cheques dishonoured not recorded in cash book
* Wrong debits given by bank
* If it is prepared with the Bank balance as per the bank passbook, then the above procedure will be reversed i.e the items will be added to the pass book which were deducted from the cash book balance and those items will be deducted from the bank pass book balance which were added to the cash book balance.
* Bank Reconciliation Statement is prepared either by starting with the Bank pass book balance or Cash book balance.
* If the balance of the Cash book is taken as a starting point then Cash book balance is to be adjusted in accordance with the entries passed in the Bank pass book and vice versa. For example: If the balance is taken as per the Cash book then the following items will be added:
* Cheques issued but not presented for payment;
* Amount credited in Passbook but not in Cash book;
* Deposits made in the bank directly;
* Wrong credits given by bank;
* Interest credited in the Passbook.
The following items will be subtracted:
* Cheques deposited but not cleared;
* Interest/Bank Charges debited by bank
* Direct payments made by bank not entered in Cash book
* Cheques dishonoured not recorded in cash book
* Wrong debits given by bank
* If it is prepared with the Bank balance as per the bank passbook, then the above procedure will be reversed i.e the items will be added to the pass book which were deducted from the cash book balance and those items will be deducted from the bank pass book balance which were added to the cash book balance.
3 :: Explain Bank Reconciliation Statement. Why is it prepared?
Bank Reconciliation Statement is a statement prepared to reconcile the balances of cash book maintained by the concern and pass book maintained by the bank at periodical intervals. At the end of every month entries in the cash book are compared with the entries in the pass book. The causes of differences in balances of both the books are scrutinized and then reconciliation statement is prepared. This statement is prepared for a special purpose and once in a month. It is prepared with a view to indicate items which cause difference between the balances as per the bank columns of the cash book and the bank pass book at a particular date.
4 :: Explain step for preparing a bank reconciliation statement?
* Bank Reconciliation Statement is prepared either by starting with the Bank pass book balance or Cash book balance.
* If the balance of the Cash book is taken as a starting point then Cash book balance is to be adjusted in accordance with the entries passed in the Bank pass book and vice versa. For example: If the balance is taken as per the Cash book then the following items will be added:
* Cheques issued but not presented for payment;
* Amount credited in Passbook but not in Cash book;
* Deposits made in the bank directly;
* Wrong credits given by bank;
* Interest credited in the Passbook.
* If the balance of the Cash book is taken as a starting point then Cash book balance is to be adjusted in accordance with the entries passed in the Bank pass book and vice versa. For example: If the balance is taken as per the Cash book then the following items will be added:
* Cheques issued but not presented for payment;
* Amount credited in Passbook but not in Cash book;
* Deposits made in the bank directly;
* Wrong credits given by bank;
* Interest credited in the Passbook.
5 :: Explain things to avoid while preparing a bank reconciliation statement?
* Cheques deposited but not cleared;
* Interest/Bank Charges debited by bank
* Direct payments made by bank not entered in Cash book
* Cheques dishonoured not recorded in cash book
* Wrong debits given by bank
* If it is prepared with the Bank balance as per the bank passbook, then the above procedure will be reversed i.e the items will be added to the pass book which were deducted from the cash book balance and those items will be deducted from the bank pass book balance which were added to the cash book balance.
* Interest/Bank Charges debited by bank
* Direct payments made by bank not entered in Cash book
* Cheques dishonoured not recorded in cash book
* Wrong debits given by bank
* If it is prepared with the Bank balance as per the bank passbook, then the above procedure will be reversed i.e the items will be added to the pass book which were deducted from the cash book balance and those items will be deducted from the bank pass book balance which were added to the cash book balance.
6 :: Bank Reconciliation Phone interview questions:
✿ Tell me about yourself?
✿ When were you most satisfied in your job?
✿ What are the qualities of a good leader?
✿ What are your long-term goals or career plans?
✿ What are three positive character traits you don't have?
✿ When were you most satisfied in your job?
✿ What are the qualities of a good leader?
✿ What are your long-term goals or career plans?
✿ What are three positive character traits you don't have?
7 :: Bank Reconciliation Basic interview questions:
☛ Have you done this kind of work before?
☛ How long would you stay with our company?
☛ Do you think you are overqualified for this position?
☛ How did you prepare for this work?
☛ Do you have any questions for me?
☛ How long would you stay with our company?
☛ Do you think you are overqualified for this position?
☛ How did you prepare for this work?
☛ Do you have any questions for me?
8 :: Bank Reconciliation Competency Based job interview questions:
☛ Tell me about a difficult experience you had in working?
☛ How do you react to instruction and criticism?
☛ When given an important assignment, how do you approach it?
☛ What were your annual goals at your most current employer?
☛ How do you feel about taking no for an answer?
☛ How do you react to instruction and criticism?
☛ When given an important assignment, how do you approach it?
☛ What were your annual goals at your most current employer?
☛ How do you feel about taking no for an answer?
9 :: Bank Reconciliation Video interview questions:
☼ Tell me about your proudest achievement?
☼ Give me an example that best describes your organizational skills?
☼ How have you changed in the last five years?
☼ What was the most important task you ever had?
☼ What would you say are your strong points?
☼ Give me an example that best describes your organizational skills?
☼ How have you changed in the last five years?
☼ What was the most important task you ever had?
☼ What would you say are your strong points?
10 :: Bank Reconciliation Situational interview questions:
☼ How do you think you can make a contribution to this company?
☼ How did you handle meeting a tight deadline?
☼ Which subjects did you enjoy during your qualifying degree?
☼ What would make you happy in a job?
☼ What relevant experience do you have?
☼ How did you handle meeting a tight deadline?
☼ Which subjects did you enjoy during your qualifying degree?
☼ What would make you happy in a job?
☼ What relevant experience do you have?