Interested to Buy Any Domain ? << Click Here >> for more details...
What is the Purpose of Preparing Bank Reconciliation
Statement?
- 7 Answers
- 21704 Views
- EDS, I also Faced
- E-Mail Answers
Answer Posted / pravin kamble
To show the correct picture of agreement which has been
agreed between the bank & the other party.
1)There may be some item which we have not agreed with bank
but still bank had given us either debit / credit for that
Or there may be some items for which we have agreed with
bank, but while passing the entries in our books of account
might not reflecting due to any reason (forgot, wrong
entered - debit item entered as credit, reversals entries).
2)There may be timing difference, because on the last date
of the agreed period's date, there might be some
transaction which had appreared in bank statement but due
to time limit it was not entered in our books of account.
To show the above two points a bank reconciliation
statement has been prepared. So accordingly we do the
correction in our books of accounts or we force the bank to
get it rectified in their books of account.
| Is This Answer Correct ? | 9 Yes | 5 No |
Post New Answer View All Answers
What is executive accounting?
Capital reserve is - a) real account b) nominal account c) personal account d) none of them
What is the use of form D in sale tax
how to pass provision salary full and settlement(inclusive Bonus,Gratutity etc )please show me entry
We have purchased some good from our vendor and we asked them to transport the same to some address but they have raised a debit note to us for transportation instead of invoice. Same like we have given some order to manufacture for developing that product they have charged some amount for that also they have raised the debit note. How to account these type of debit notes in tally..?
What other careers are you considering?
DIFFERNCE BETWEEN RESERVE AND FUND?
what is the difference between profit center area and business are.? please make me clear.
How you can adjust entries into account?
Where the financial accounting fails the cost accounting for is rescue but still there are some limitations deficiencies in the system?
What is the difference between personal account real account and nominal account?
What is the Corporate Tax, Minimum Alternate Tax, Professional Tax, Business Tax Describe Me
SHADOW BALANCE SHEET
What is your role in planning?
WHAT IS THE DEFINATIN OF IDENTICAL GOODS AND SIMILAR GOODS? WITH EXAMPLE?
