What Is The Purpose Of Reconciling The Bank Account? What Are You Sup

1.	What Is The Purpose Of Reconciling The Bank Account? What Are You Supposed To Do With The Transactions That Did Not Reconcile?
Answer» By reconciling you make sure that all TRANSACTIONS that went through the bank are also present in your accounting SYSTEM. CASH transactions that did not flow through the bank cannot be reconciled using bank statements. Items not reconciled are EITHER pending for the following month or, if they are a mistake or DUPLICATED, they must be deleted. By reconciling you make sure that all transactions that went through the bank are also present in your accounting system. Cash transactions that did not flow through the bank cannot be reconciled using bank statements. Items not reconciled are either pending for the following month or, if they are a mistake or duplicated, they must be deleted.

What Is The Purpose Of Reconciling The Bank Account? What Are You Supposed To Do With The Transactions That Did Not Reconcile?

Answer»

By reconciling you make sure that all TRANSACTIONS that went through the bank are also present in your accounting SYSTEM. CASH transactions that did not flow through the bank cannot be reconciled using bank statements. Items not reconciled are EITHER pending for the following month or, if they are a mistake or DUPLICATED, they must be deleted.

By reconciling you make sure that all transactions that went through the bank are also present in your accounting system. Cash transactions that did not flow through the bank cannot be reconciled using bank statements. Items not reconciled are either pending for the following month or, if they are a mistake or duplicated, they must be deleted.

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