How to investigate a Bank balance difference

Bank differences usually come from bank sales, bank expenses, transfers, invoice payments, or bill payments.

Steps

1. Check the Bank balance shown in Bizwazi.
2. Compare it with your real bank or card balance.
3. Review Bank sales.
4. Review Bank expenses.
5. Review invoice payments received into Bank.
6. Review supplier bill payments paid from Bank.
7. Review transfers from Cash or M-PESA into Bank.
8. Review withdrawals from Bank into Cash.

Good practice

• Use clear notes for bank transfers.
• Do not record a transfer as a sale or expense.
• Check dates carefully because bank transactions may appear later than expected.