Bank Reconciliation Statement
Bank reconciliation statement is not part of financial statement it is the helping statement to tally bank account with balance in banks statement.
* Bank reconciliation statement ensures the accuracy of the balances shown by the pass book and cash book. * Bank reconciliation statement provides a check on the accuracy of entries made in both the books. * Bank reconciliation statement helps to detect and rectify any error committed in both the books. * Bank reconciliation statement helps to update the cash book by discovering some entries not yet recorded. * Bank reconciliation statement indicates any undue delay in the collection and clearance of some cheques.
accountant
bankers
it means that it show the difference between the cash book and bank statement
Bank reconciliation statement is not part of financial statement it is the helping statement to tally bank account with balance in banks statement.
* Bank reconciliation statement ensures the accuracy of the balances shown by the pass book and cash book. * Bank reconciliation statement provides a check on the accuracy of entries made in both the books. * Bank reconciliation statement helps to detect and rectify any error committed in both the books. * Bank reconciliation statement helps to update the cash book by discovering some entries not yet recorded. * Bank reconciliation statement indicates any undue delay in the collection and clearance of some cheques.
bankers
accountant
Monthly
what is the bank reconciliation statement
bank reconciliation statement
it means that it show the difference between the cash book and bank statement
When the balances of our Cash Book and Pass Book do not agree, we prepare a Bank Reconciliation Statement. A Bank Reconciliation Statement is prepared periodically to reconcile the two balances and explain the reasons for the difference between them. It shows the items and the errors causing the difference as on a particular date. It is just a statement and not a part of the books of Accounts.
A type of a reconciliation statement is a bank statement. A reconciliation statement will log are transaction on an account, all debits and credits to reveal what is outstanding so an account can be balanced with accuracy.
when debit and credit column is not match of bank account
A bank reconciliation statement allows you view all of your transactions in one document, which makes it easier to find a transaction you may have forgotten to document or one you may have duplicated. There really aren't any disadvantages to bank reconciliation statements.