Financial Close Policy: Bank Reconciliation Procedures

This policy sample outlines bank reconciliation procedures organizations should follow during the financial close process.

In this sample, cash is applied at the pharmacy/cost center level by the cash associates and any unposted cash at month-end is sent to the accountants, in the form of an accrual, to balance back to the bank statements. This information is provided in the form of a deposit log, which is an Excel spreadsheet called Consolidated Bank Summary and the unposted cash is identified to the pharmacy level so that accounting can accrue the cash at the pharmacy level.