What is bank reconciliation?

Answer Accurate financial records promote a sense of security in knowing one's financial status. Performing a bank reconciliation ensures that individual and business financial records are accurate and in... Read More »

Top Q&A For: What is bank reconciliation

What is the definition of bank reconciliation?

Bank reconciliation refers to the balancing and verification of a bank holder's checking account to the periodic bank statements that are produced and sent by the bank to its customer's.Checking Ac... Read More »

What is a bank reconciliation statement?

Checking accounts are a type of account held at a bank or credit union that allows you to access money through the use of paper checks that businesses or other individuals can deposit or turn into ... Read More »

What is the definition of bank reconciliation statement?

A bank reconciliation statement is a form used to compare personal banking records to the bank's record of transactions to determine if there are any discrepancies.Reasons for DiscrepanciesInconsis... Read More »

What is the purpose of a bank reconciliation statement?

A bank reconciliation statement, or bank statement, is a monthly record sent to each account holder from a bank or other institution. Traditionally sent through the mail, many larger banks now offe... Read More »