Working Days or Calendar Days: Deadline for the Submission of Bank Recon to COA

Accounting 101

Sender: Hi GABOTAF. Please help. Would like to clarify if the 20 days include weekends and holidays or only weekdays regarding the submission of Bank Reconciliation. Here’s the guidelines from COA. Thank you!

Chapter 21 – BANK RECONCILIATION
Sec. 7. Reporting. The Chief Accountant shall submit the BRS within 20 days after receipt of the monthly Bank Statement.

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