Ensure that all deposits made in the current month are included in the opening balance.
Compare the opening balance with the closing balance of the previous month's statement.
Check if any errors or discrepancies have occurred in the posting of transactions.
Verify that the statement includes all relevant transactions for the given period.
How would you check the accuracy of the opening balance of the most recent statement?
Subtract the ending balance of the last statement from the ending balance of the current statement.
Verify that last months ending balance equals this month’s opening balance.
Reconcile last month’s statement against non-bank records.
Add all of this month’s withdrawals to the ending balance.
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