BANK RECONCILIATIONS
Purpose:
In order to ensure that the balance of the
bank account in the books of the business,
corresponds with the balance on the bank
statement.
30/03/2023
, BANK RECONCILIATIONS
The reconciliation process has two phases:
Firstly the records of the business must be
updated with information that appears only the
bank statement (supplementary entries in the
Journals)
Secondly the entries that is not on the bank
statement, must be recorded in the bank
reconciliation statement.
30/03/2023
Purpose:
In order to ensure that the balance of the
bank account in the books of the business,
corresponds with the balance on the bank
statement.
30/03/2023
, BANK RECONCILIATIONS
The reconciliation process has two phases:
Firstly the records of the business must be
updated with information that appears only the
bank statement (supplementary entries in the
Journals)
Secondly the entries that is not on the bank
statement, must be recorded in the bank
reconciliation statement.
30/03/2023
