what is bank reconciliation?what is reconciliation of
account and what type of accounts maintain in colleges?
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Answer Posted / barun
bank reconcilation is way to find out outstanding balance
for any A/c is match with the amount you spand these two
value must match at the end of transection.
confused......
ok
example-you have icici bank A/c-you deposit -rs 1000
next day you withdrawl 300
next day deposit 500
again next day withdrwl 1000
at the end of month outstanding balance=total(deposit)-total
(withdrowl)
i.e os balance=(1000+500)-(300+1000)=200
at the end of month bankers cheking the amount with bank
statment it is correct or not with your a/c.
ie is reconcilation.
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