Benefit of Bank Reconcilliation
lokesh agrawal (142 Points)
26 June 2018
what are the benefits of doing bank reconciliation during the audit
lokesh agrawal (142 Points)
26 June 2018
CA Shivam Arora
(Chartered Accountant)
(2414 Points)
Replied 26 June 2018
Difference in Bank passbook/statement and the books of accounts can be known and crosschecked as to whether the reason for such difference is true or not. If any discrepancy is there it can be pointed out.
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