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What is bank reconciliation ?
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Bank reconciliation is a statement, perpared by an
organisation to reconcile the cash at bank in its own
records with the particuler bank statement on a particular
period.itis made at the end of the month.mainly the
diffrences between the two records on a particular period
may be arise due to the following:
1 cheques drawn but not yet presented in the bank.
2 cheques received but not yet deposited in the bank.
3 bank charges debited but not recorded in the
organisation's books.
4 interest credited but not recorded in the books of
organisation's books.
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Answer / rasheed
IT is a statement which is prepared by a Trader..to find the
difference between cash book and passbook......
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / thiyaguhih
So many Reasons for difference between the company books and Bank passbook, Hence we make reconcile both of books.
| Is This Answer Correct ? | 2 Yes | 2 No |
Answer / tushar
bank reconciliation is statement not a ledger .it's showing the cause of difference in the balance of bank as per cash book and balance as per passbook for particular time or on particular date
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