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Answer Posted / rajiv sabharwal
Reconciliation means to tally cash book with bank pass book
so that both balances reflect the same amount i.e. their
balances agree.
Sometimes bank debit and sometimes credit account with
amount which is not in the knowledge of accountant and that
create difference in cash & bank pass book balance.
Sometimes cheques are issued but they are not presented for
collection in the bank, sometimes cheques are deposited but
they are cashed on time. These and few other reasons create
difference in pass and cash book.
To over come from these differences and to tally our
balances we reconcile our cash book with pass book.
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