Treasury Analyst Mock Interview
Master 25 Treasury Analyst interview questions covering cash management, forecasting, and risk assessment.
Question 21 of 25
What are the steps involved in the bank reconciliation process?
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Brian Schuchart is a CPA and Senior Finance Business Partner. His professional experience includes senior management roles with NBC Sports, Virtual Health, and the Children's Hospital of Philadephia.
Bank reconciliations are a key responsibility of the treasury analyst role. These days, most accounting software packages (such as Quickbooks) make the process easy. However, an analyst should know the steps that are involved.
Brian Schuchart is a CPA and Senior Finance Business Partner. His professional experience includes senior management roles with NBC Sports, Virtual Health, and the Children's Hospital of Philadephia.
"In order to complete a bank reconciliation, a bank statement or export file of bank activity needs to be obtained for the prior month. The analyst should enter the ending bank balance in the accounting software. Next, the analyst should check off the transactions that have cleared the bank. There may be some transactions that need to be added to the general ledger, such as bank charges. If the reconciliation ties out to the bank balance, the reconciliation is complete. If not, differences should be investigated."
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