Using the Guide, explain in your own words what needs to be recorded in the Cash Payments Journal (referred to as the cash book in the Guide) when a payment is made by EFT or a bill payment platform such as BPAY (max 400 characters) use the following information: The 'bank reconciliation statement' is simply the statement that reconciles the cash records of the business with the bank's records. It is a legislative requirement for real estate agents to reconcile bank statements for trust accounts every month. Reconciling the bank statement balance with the balance reflected in the cash at bank ledger (or 'cash book') is a central requirement in protecting money in trust. If the balance is off, and agency trust records show balance higher than what is stated in the bank statement, it may indicate that theft of trust monies has occurred. The licensee is required to make sure that each trust account balance reflects the balance indicated in the bank account statement every month