Webclass 123: Top 5 tips for bank reconciliation audits

Q1. How could finance make the balance sheet match the bank statement?

Enter some manual journal entries

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By doing the bank reconciliation

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Q2. If we suspect that there was less on the bank statement than in the accounts, what types of entries could we look for?

Credit bank and debit an account that is not well controlled, such as a suspense account without clearing or a sundry cost account

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Debit bank and credit an account that is not well controlled, such as a suspense account without clearing or a sundry cost account

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Q3. Why would we be intrigued if there were bank-out entries entered by top management?

Because it is not usually the role of top management to enter journal entries

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Because top management are usually doing the bank reconciliation

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Q4. Why would we want to look at entries around month-end?

Because bank statement reconciliations are usually done at that time, so any unauthorized adjustments might be done when the gap is noticed

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Because bank statement reconciliations are usually done at closing

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Q5. Why might we be interested in total negative movements to house banks over the period compared to high-performing sales versus operating costs?

Because it could mean that there is unidentified cash-out of the bank

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Because it could mean that too many costs have been posted in the period

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Q6. Why might we want to put journal entries into specific buckets?

So that we can automatically analyze patterns in the general ledger

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So that we can see if there is a difference with the bank statements

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Q7. Which chart of accounts field helps us to know if the general ledger account relates to a house bank?

SKB1_HBKID

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SKA1_GVTYP

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Q8. Which table helps us to know if the account is posted to based on transactions in the payment program?

REGUH

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REGUP

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Q9. Which tables contain information about the electronic bank reconciliations?

FEBKO and FEBEP

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REGUH and REGUP

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Q10. Why should we not only rely on the FEBKO and FEBEP tables for our audit review?

Because there might be other house banks that are not included in those tables

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Because we also should check the REGUH table

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Q11. If there is a manual online payment that is done directly in online banking, where would we expect to see the journal entry for that?

Only in the general ledger as a manual posting

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In the payment program (REGUH table) and then in the general ledger (BSEG)

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Webclass 123: Top 5 tips for bank reconciliation audits

Webclass 123: Top 5 tips for bank reconciliation audits

admin June 9, 2026

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