The actual cash balance as set forth in the bank's statement shall be reconciled monthly with the corresponding general ledger accounts. The difference between the bank balance and the ledger account is generally the result of outstanding checks and deposits in transit, but there may be items such as bank charges to be considered and errors in the bank statement such as improper charges and credits. The verification of the bank balance shall include a careful examination of the cancelled checks, each check being scrutinized as to amounts, dates, and indorsements, and compared to the voucher and other documents supporting the disbursements. Check books shall be examined and all spoiled or voided checks accounted for. Outstanding checks which are not presented for payment within a reasonable time after issuance shall be investigated. Checks representing transfers between funds shall be noted and compared with the deposits representing transfers. The bank reconciliation may be made in the cash disbursements ledger or may be filed with the respective bank statement and should be in a form similar to the following: