Acca financial Accounting (FA) Study Text ac ca (FA)

Test your understanding 1 

 

On which side of the cash book should the following unrecorded 

items be posted? 

•

 bank 

charges 

•

 

direct debits/standing orders 

•

 direct 

credits 

•

 

dishonoured cheques received from customers 

•

 

bank interest received. 

 

 

Bank statement adjustments 

 

Timing differences 

These items have been recorded in the cash book, but due to the bank 

clearing process have not yet been recorded in the bank statement: 

•

 

Outstanding/unpresented cheques (cheques sent to suppliers but 

not yet cleared by the bank). 

•

 

Outstanding/uncleared lodgements (cheques received by the 

business but not yet cleared by the bank).