What Is Bank Reconciliation?

1.	What Is Bank Reconciliation?
Answer» A bank reconciliation is the PROCESS of matching the balances in an entity's accounting records for a cash account to the corresponding information on a bank STATEMENT. The goal of this process is to ASCERTAIN the differences between the TWO, and to book changes to the accounting records as appropriate. A bank reconciliation is the process of matching the balances in an entity's accounting records for a cash account to the corresponding information on a bank statement. The goal of this process is to ascertain the differences between the two, and to book changes to the accounting records as appropriate.

Answer»

A bank reconciliation is the PROCESS of matching the balances in an entity's accounting records for a cash account to the corresponding information on a bank STATEMENT. The goal of this process is to ASCERTAIN the differences between the TWO, and to book changes to the accounting records as appropriate.

A bank reconciliation is the process of matching the balances in an entity's accounting records for a cash account to the corresponding information on a bank statement. The goal of this process is to ascertain the differences between the two, and to book changes to the accounting records as appropriate.

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