2006-09-20 03:07:31 · 4 answers · asked by Bridget D 1 in Business & Finance ➔ Other - Business & Finance
It serves to basically balance a company's check book. It is necessary to ensure that the accounting records agree to the bank statements and that all cash is appropriately accounted for.
2006-09-20 03:12:56 · answer #1 · answered by Matt M 5 · 0⤊ 0⤋
To make sure nobody is stealing your money. The bank rec will not only "balance the check book" but it will find variances when cash has been drawn against the account without proper authorization and records.
2006-09-21 00:34:09 · answer #2 · answered by MagicalMke 4 · 0⤊ 0⤋
It ensures that all the entries reflected in your books correspond to those reflected in the bank statement
2006-09-20 10:12:24 · answer #3 · answered by ? 3 · 0⤊ 0⤋
To balance your checkbook.
2006-09-20 10:17:16 · answer #4 · answered by caroline j 4 · 0⤊ 0⤋