what is the bank reconciliation?

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umesh satywali

umesh satywali (Querist)
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21 July 2011 whatis the bank reco

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)
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22 July 2011 Bank reconciliation is the process of matching and comparing figures from accounting records against those presented on a bank statement. Less any items which have no relation to the bank statement, the balance of the accounting ledger should reconcile (match) to the balance of the bank statement.

Bank reconciliation allows companies or individuals to compare their account records to the bank's records of their account balance in order to uncover any possible discrepancies.

for more information link is:-

http://www.du.ac.in/fileadmin/DU/Academics/course_material/EP_14.pdf