bank statement reconciliation

FinAcc Global Guide To Easy Bank Reconciliation

admin / Blogs , Bookkeeping Service ,

26 Nov 2020

FinAcc Global Guide To Easy Bank Reconciliation

For a bank statement reconciliation, the account balance provided by the bank is compared to the general ledger of a company or a business. Businesses or companies maintain a record book in which they record both bank transactions and cash movements. The cash book's cash column reports the available cash, whereas the bank column reports the cash present in the bank. In this way, every bank...

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Why Is Bank Statement Reconciliation Crucial?

admin / Blogs , Bookkeeping Service ,

23 Nov 2020

Why Is Bank Statement Reconciliation Crucial?

The bank statement tracks all the information of in and out the movement of money within the company accounts, while a general ledger contains a record of its recent transactions. Theoretically, these two fragments state similar information and result in the same cash balances. But, practically, it is not always the case. Along with these two, businesses of any level have to perform frequent reviews, known...

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