Bank Reconciliation
What is a Bank Reconciliation?
To complete a Bank Reconciliation Statement, you reconcile between the business ‘cash at bank’ records and the bank’s records from the bank statement.
The Bank Reconciliation Statement is a check from the business point of view to the banks records. The two records are then closely compared and any difference checked and adjusted. This process occurs because cash control is vital for the business and so the banking record is accurate.
Now take a low cost tutorial to find out how to prepare a bank reconciliation and see an example.
