Monthly Banking Checklist (MLS 2026)

Consistent banking procedures are essential for maintaining:

•accurate balances

•reliable reports

•healthy cash flow

•trustworthy financial records

This checklist provides a practical monthly workflow for managing bank activity within MLS 2026.

Following these steps regularly will prevent most:

•reconciliation problems

•balance discrepancies

•accounting confusion

Daily or Weekly Tasks

These activities should be performed throughout the month.

Enter Deposits Promptly

•Post all deposits as they occur

•Verify amounts against deposit slips

•Confirm correct G/L accounts

Enter Bank Charges and Interest

•Post service charges

•Enter earned interest

•Verify posting accounts

Enter Checks Immediately

•Record handwritten checks promptly

•Verify check numbers

•Include meaningful notes and references

Review Outstanding Checks

•Watch for unusually old items

•Investigate lost or duplicate checks

•Void invalid checks when appropriate

Verify Daily Balances

•Review current bank totals

•Investigate unexpected balance changes

•Confirm large transactions

End-of-Month Processing

These steps should be completed when the bank statement arrives.

1. Obtain the Bank Statement

Gather:

•bank statement

•deposit slips

•canceled checks (if provided)

•banking notices

•adjustment information

2. Post Missing Activity

Before reconciliation, verify that all activity has been entered:

•deposits

•service charges

•interest

•wire fees

•adjustments

•manual checks

3. Perform Bank Reconciliation

Open:

•Bank → Reconcile

Then:

•mark all cleared checks

•verify cleared deposits

•process the reconciliation

⚠️ Do not skip this step.

Most banking discrepancies are caused by incomplete reconciliation.

4. Review Outstanding Checks Report

Print and review:

•Outstanding Checks

Investigate:

•old checks

•stale items

•duplicate payments

•unreconciled transactions

5. Print Bank Register

Print the:

•Bank Register

for the statement period.

Verify:

•checks

•deposits

•charges

•balances

Match the register against the statement.

6. Verify General Ledger Totals

Confirm that:

•bank balances

•General Ledger balances

match properly.

If problems appear:

•run Ledger Analysis

•review edited or voided checks

•verify deposits and charges

7. Run Bank Resum if Needed

If totals still appear incorrect:

Run:

•Resum

to recalculate:

•balances

•outstanding amounts

•totals

8. File Monthly Reports

Maintain printed or archived copies of:

•bank statement

•bank register

•outstanding checks report

•reconciliation documentation

This creates:

•a strong audit trail

•easier troubleshooting

•historical protection

9. Review Cash Flow

Evaluate:

•available balances

•upcoming obligations

•overdue receivables

•vendor payments

Healthy banking management depends on:

👉 understanding actual available cash.

10. Backup Your Data

Always perform a backup after monthly processing.

This is especially important after:

•reconciliation

•major adjustments

•period closing

Recommended Monthly Workflow

A strong banking cycle usually follows this order:

1.Enter all activity

2.Post charges and interest

3.Reconcile statement

4.Review outstanding checks

5.Print reports

6.Verify G/L balances

7.Backup data

Warning Signs to Investigate Immediately

If any of these appear:

•balances don’t match

•outstanding checks keep growing

•duplicate deposits appear

•checks disappear

•G/L totals differ from banking

stop and investigate before continuing processing.

Small errors become much harder to correct over time.

Best Practice Reminder

Healthy banking procedures are built on:

•timely posting

•regular reconciliation

•careful review

•consistent reporting

Operators who follow this checklist monthly rarely experience serious banking problems.

Recommended Companion Sections

This checklist works closely with:

•Bank Reconciliation

•Writing Checks

•Posting Deposits and Charges

•Check Registers

•Banking Troubleshooting

•General Ledger Analysis

Together, these sections provide a complete banking management and audit workflow within MLS 2026.Enter topic text here.