Interested to Buy Any Domain ? << Click Here >> for more details...
WHAT DOES MEAN BY
RECONCILLATION
EXCESS/SHORTAGE
- 3 Answers
- 5922 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 |
Hi, I am working at Himachal Pradesh, there we pay entry tax for purchase other state. but now govt decide this tax will be deposited with Sale Tax return, now my question is that where column i show this tax or which challn i deposit this tax
what is joint venture & venture capitaling
What can go wrong if you have a balance sheet with a lot of debt? What can go wrong if there is negative owner's equity? What does a good cash flow statement look like and why?
What is the difference between tally 6 and tally erp 9?
1 Answers Infomatics Software Solutions,
What is purchase returns accounting
Hi Everybody, Can anybody tell me how to create ledger in Peachtree Accounting software, means there are some Code, which Codes Comes under which ledger Account.your prompt Answer will be highly appreciated, Thanks & regards, Khan
what is the difference between accounting and bookkeeping?
HP EMPLOYYES - If any one in HP company, Please give refernce for attend the Accounting Job in chennai,Bpo- chetpet.If any one Worked there Please,Send mail to me Umaiyo@gmail.com.I have 1 year exp in banking sector, & 8 months exp in accounting in SIEMENS, at present I'm searching for a job.If any person see this mail,Kindly send mail to me. Thank U Friend.
distribution of gift in diwali to employee & buyer!! what's suitable expences head.
Describe yourself briefly why you are outstanding for this post "Finance Coordinator"?
What do you mean by contingent liability?
golden ruls of accounting
Audit 
