What is Bank Reconcilation Statement?
Answer Posted / ishav
when the accounts for the same trasactions are mainted at
two differennt places, there is bound be a differnce
between the balance of them, and anylizing the reasons for
such difference is known as reconciliation.
Now Bank Reconcilitaion Statement
Records for the bank related transactions are maintained at
our end & bank's end & and at the end of a particular
period there may be some differnce in the balance as per
our records and bank's record due to 2 mains reasons
1.) Entries recorded in our books and not in Bank Records
2.) Entries recorded by Bank and not recorded by us.
Now analyzing such reasons and presenting them in a legible
format is Bank Reconciliation Statements.
Is This Answer Correct ? | 22 Yes | 0 No |
Post New Answer View All Answers
Questions on Purchase Book & sales Book .Balance sheet , Purchase & Sales Return
in which group under we will open donation and hamali weekly payment account or ledger
About Funding Working Capital to a Company? A company Turn over is 12 Cr, but in the bank statement credits per month is more that 3 Cr? how this could happen? awaiting your views?
what is purchase consideration? How does it come about and how is it treated in the books?
Expand--------OTA
HOW I CAN PREPARE A BALANCE SHEET OF A COMPANY ?
What are events occuring after the balancesheet date?
How to dived the persons AOP, AJP, BODY OF INDIVIDUALS,HUF,COMPANY-NON RESIDENT, COMPANY RESIDENT LOCLA AUTHORITY,PARTNERSHIP FIRM(meaning)
what is account & what is finance
1. what is debenture? 2.Why company will issue shares? 3. What is audit? 4. What is the role of finance department? 5. What is mutual fund?
what is capital market and money market? what is primary market and secondary market?
bank exam paper
define fixed assets
I have an S Corporation called Trend Foods Inc. I would like to make a division of that company that services computers and call that Trend Computer Service. I do not want to set up another Corporation for Trend Computer Service. Can I just make a division of Trend Foods and what paperwork do I need to fill out to make that happen? Thanks for the help, Jim
Please suggest the manual records needed to be maintained at NGO/CBO to record the transactions of accounts & inventory. Please also mention the need & purpose of each records/books