As an Org Plus Plan subscriber, you have unlimited access to the On Demand training library of pre-recorded training videos. You can watch these as many times as you like at your own leisure. Questions can be posed to trainers during and after the video, with responses being provided within 2 working days. Ensure you’re logged into your account to access.
For non-subscribers and all other plan subscribers, access can be purchased separately.
Bank Reconciliation
Length: 1 Hour
Published September 24, 2022
Last Updated on June 28, 2023
Who is this training for?
This online workshop is for Solicitors, Lawyers, Accountants, Compliance Officers, COFA’s, Legal Accounts Professionals, Legal Cashiers, Credit Controllers and anyone that has any involvement in working in legal finance and compliance.
Purpose of this training?
The bank reconciliation is a process which identifies the difference between the bank balance shown in a firm’s bank statements and the corresponding amount shown in the firm’s own accounting records at a specific point in time. The document used to record this process is referred to as a bank reconciliation statement/report or the ‘three way bank reconciliation statement’ when reconciling client bank accounts and money.
Most regulators require firms to complete at least every five weeks, a client bank reconciliation for all client bank accounts operated by that firm.
How a firm carries out and prepares bank reconciliations is a good indicator of the overall control environment within a firm. It’s one of the key controls – period. If it is not done compliantly it raises concerns about what else isn’t being done compliantly or at all, to reporting accountants and the SRA during monitoring visits.
Frequently Asked Questions
All ALCA online training is delivered live, interactive and is recorded. We bridge the gap between ‘face-to-face’ and online training by applying a blended approach. Questions can be posed to trainers throughout the workshops with quizzes/polls being used to engage with attendees.
Workshops can be continuously replayed for 60 days after broadcast.
Benefits?
- Reduced cost
- Can be taken anywhere on any device – no travel time or cost
- Shorter and more efficient than face-to-face
- Live and interactive
- Recorded and can be replayed at your leisure
Depending on your subscription and the length of the workshop, the pricing is as follows:
Our online workshops are delivered via Zoom. You can access the session via your computer, tablet or mobile device.
Details on how to join the online session will be provided the day before the training goes live.
We recommend you run a system test and check your internet speed by clicking <a href=”https://zoom.us/test” target=”_blank” rel=”noopener”>HERE</a>.
If your firm prevents you from using Zoom, please <a href=”mailto:hello@alca.org.uk”>contact us</a>.
There is no requirement to attend live but we advise that you do where you can as this will be the best experience for you. Don’t forget, you can pose questions live to the trainer and join in with the interaction when you attend live. Also, be mindful that you have access to the recording for 30 days, after which, it will no longer be available.
Not at all. We prefer it if candidates do as it makes the training more engaging but it is not mandatory to turn your camera or microphone on during the training session.
If you don’t have a microphone, you can still pose questions using the chat facility.
