Interested to Buy Any Domain ? << Click Here >> for more details...
WHAT DOES MEAN BY
RECONCILLATION
EXCESS/SHORTAGE
- 3 Answers
- 6130 Views
- I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / h.r. sreepada bhagi
Reconciliation in accounting refers to matching the
accounting figures from 2 statements. For example Bank
reconciliation statement is prepared to tally the difference
between the statement of account from the bank and the bank
account maintained in the books of accounts of a company/firm.
Like wise the ledger account of a customer or a creditor can
be verified with the statement of account received from the
concerned customer or creditor (Supplier/vendor).
Purpose of any reconciliation is to list out the
transactions missing in either of the two statements, find
out the reasons and take necessary action to rectify the
same. It's a good practice to reconcile the accounts
periodically to ensure correct accounting.
| Is This Answer Correct ? | 2 Yes | 0 No |
Answer / pravin kamble
No, I believe, reconciliation means a statement which shows
difference / agreemnet between two parties.
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / vishal
reco means particulear two side transaction cross check and find out excess and short amount like bank reco .supplier gl and our purch. gl
| Is This Answer Correct ? | 0 Yes | 0 No |
Tell me how would you define team work and communication skills in the context of account management?
FIXED Asset - What is the most used method/right method in Depreciation in India and other countries..? (ie., Straight line method,Written down value method. or etc.,). The calculation for depreciation how it stand commonly in all organization..? Is there any difference between companies and assets..? Your answer will be highly appreciated. Thanks in advance.
What is Venture Capital ?
why sales amount comes in Credit Side in Trial Balance ?. Please give me Explanation Why Purchase amount comes in Debit side in Trial Balance ?. Please give me explanation.
what is p2p and waht is the p2p cycle
What is Cash Flow Statement?
Whether we add or not the Insurance policy premium of vehicle in asset value?
whats the sales tax slab and company's turnover professional tax slab
Name Financial Institutions available in Indian Industry to meet financial needs ? and their objectives ?
i want make credit card ledger. which group under its come?
Tell me why did you select accounting as your profession?
what is IPO
Audit 
