Outstanding checks refer to checks that have been: Multiple Choice Held as blank checks. Written, recorded on the company books, sent to the payee, but not yet paid by the bank. Issued by the bank. Written, recorded, sent to payees, and received and paid by the bank. Written and not yet recorded in the company books.

A bank reconciliation mainly computed by an accountant, gives the difference between the balance in relation to the bank statement and the cash balance with respect to the accounting records of the depositor in a particular financial institution.

In Financial accounting, a bank statement can be defined as an official summary or list of financial transactions, which typically comprises of the amount of money that has been paid into or withdrawn from an account by an individual or business entity over a specific period of time.

Generally, a bank statement usually has the following information charges, deposits, withdrawals, including the opening and closing balance for each account held at a given the period. Thus, bank customers are advised to frequently reconcile their records with bank statements in order to prevent not-sufficient funds (NSF) checks and outstanding checks.

Outstanding checks refer to checks that have been written, recorded on the company books, sent to the payee, but not yet paid by the bank.