Structure Of A Typical Bank Statement - Example Of A Bank Statement

In this video we go through the typical structure of a bank statement. We cover the sections listed in the statement and the listing of any deposits and withdrawals.

Transcript/notes
Structure of a bank statement
Typically at the end of each month a bank will send, or post a bank statement for each individual or business that have accounts at that bank. The account holder can check it, and compare it to their own transaction register which is called the reconciliation process. I will cover that actual process in a future video.

Bank statements can look a little different from bank to bank, but they typically contain the same items. Here is a very basic bank statement as an example. It will contain the bank name, the account holder or business name, the account number, and the period date, or summary date that the statement ends on.

Many banks will then have a summary section that tells the starting balance at the beginning of the period for the statement, the ending balance at the end of the period for the statement, and many times it will also contain the total amount of deposits and withdrawals over the period.

Underneath the summary it will then list all of the individual account transactions. Many banks, but not all, will have these sectioned off into electronic and other deposits, checks paid and electronic withdrawals.
And each of these will list the date of the transaction and the amount of the transaction. It is important to get familiar with the bank statement, in order to recognize any descripancies or errors when doing the bank reconciliation process.

Timestamps
0:00 Intro
0:22 Example bank statement