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What is the purpose of preparing a bank reconciliation and
why is it necessary?

Answers were Sorted based on User's Feedback



What is the purpose of preparing a bank reconciliation and why is it necessary?..

Answer / gaurav bhardwaj

Ya it is necessary of preparing bank reconciliation is the use
of match balance of bank

Is This Answer Correct ?    4 Yes 1 No

What is the purpose of preparing a bank reconciliation and why is it necessary?..

Answer / rakesh

Fist of all this is necessary to identify the difference
between Account balance with Bank and Account balance
reflected in our books.

Further, this is necessary to find any unexpected charges
debited by bank or any amount received directly into our
account.

Is This Answer Correct ?    3 Yes 0 No

What is the purpose of preparing a bank reconciliation and why is it necessary?..

Answer / priti

Bank Recociliatino is generally prepared to reconcile Cash
at Bank balance as per Pass Book and Cash at bank Balance
as per Books of accounts maintained .

BRS is a crucial instrument to keep a check on frudulent
activities in the organisation /entity.

Is This Answer Correct ?    3 Yes 0 No

What is the purpose of preparing a bank reconciliation and why is it necessary?..

Answer / vinod dhanawade

The main purpose to keep track of all pmts made & stoke
collection received in an organization.

Is This Answer Correct ?    0 Yes 0 No

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