What is the definition of bank reconciliation?

Answer 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 »

Top Q&A For: What is the definition of bank reconciliation

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 bank reconciliation?

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 »

How to Prepare a Bank Reconciliation?

here are several methods in reconciling the book balance and the bank balance. The adjusted balance method is preferred over book to bank method and bank to book method. Under the adjusted balance ... Read More »

Reasons for a Bank Reconciliation?

If you maintain a checking account at a bank, then you must reconcile your account to the checking statement that you receive every month in order to make adjustments to your records or to the bank... Read More »