How does one prepare a company's first bank statement reconciliation?

To prepare a bank reconciliation for a company that never prepared one previously, I would first make a list of outstanding checks. For example, if your recent bank statement is dated August31, I would look at the bank statements from June through August and make a list of the check numbers that had been written after June1, but had not appeared on any of the bank statements from June through August. Next to each check number write the dollar amount of each check. Subtract the total of the outstanding checks as of August 31 from the bank statement balance as of August31. The resulting amount is the adjusted balance per bank.  Next, look at the general ledger account that is associated with the bank statement. Let's assume it is the Cash account. Be certain that the Cash account shows items that appear on the recent bank statements. For example, Have the bank service charges been entered in the Cash account? Have the electronic transfers been entered? If not, you will need to make those entries. You may have to go back to earlier bank statements and enter those amounts as well. Eventually, you need to get the August31 balance in the Cash account to be equal to the adjusted balance per bank. If the difference is not a significant amount, you can debit or credit the Cash account for the amount necessary for it to agree to the adjusted balance per bank. I would put the same amount into an income statement account such as Difference per Bank Rec. Keep a copy of your documentation and begin a file entitled Bank Reconciliations. When the September30 bank statement arrives, prepare another bank reconciliation. Using a copy of the August31 listing of outstanding checks, cross off the checks that cleared on the September bank statement. Prepare a September30 listing of outstanding checks beginning with the checks not crossed off on the August31 copy, and then add the checks written in September that did not clear on the September bank statement. The total of the outstanding checks as of September30 should be deducted from the bank statement balance of September30 to arrive at the adjusted balance per bank as of September30. Be sure to enter into the Cash account the September bank service charge and other items appearing on the bank statement that have not yet been entered in the Cash account. This adjusted balance in the Cash account as of September30 should be the same as the adjusted balance per bank as of September30. If there is a difference, you must identify it and make any necessary adjustments.

One can prepare  Company`s  first  bank  reconciliation  statement  as  follows :

1.  Put  the  name  of   Company

2  Put  the  name  of  the  bank.

3.  Put  the  bank account  number.

4.  put  the period  of   reconciliation.

5.  start  with  the  closing  balance  in  the  bank  statement

6 Add  the amount  deposited  into  the  bank but  not shown  in the  statement.

7. Less  the  cheques  issued  but  not  presented  into  the  bank.

8.  The  balance  will  agree  with  the  Ledger  Balance.