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
Distinguish capital and revenue expenditure
how history is helpful for banking?
sir, i am working recruitment con.pvt ltd inthat one person salary will pay per month Rs.28000/- so i want to enter in our books only one salary payment or basic pay and spl.aa and others like this break up entrys we will pass please suggest
what is purchase consideration? How does it come about and how is it treated in the books?
paid two years rent N1200, bought Motor van for cash N3000
give the examples of Error of Duplication?and Error of compensatin? with entries
What part can management policy play in the analysis of cost behaviour?
helo sir, i want to know the writen exam pattern for finance and accounts ang general apptitude test of ongc.
what is mean by T and E cosept
Dear sir i had been called for ntpc interview and gd next month..please guide me for it!
joint venture?
whst is detailed information aboutaccounting standards 20to 29
while i creating a main asset master there is a error called process being terminated? pls send the solution
what is Exposure ?
How can a shopkeeper maintain the daily data in tally