banking
2006-12-05 17:20:08 · 4 answers · asked by yadav u 1 in Business & Finance ➔ Other - Business & Finance
The process of systematically comparing the cash balance as reported by the bank with the cash balance on the company's books and explaining any differences.
2006-12-05 17:43:22 · answer #1 · answered by mr_BIG 3 · 0⤊ 0⤋
You must be maintaining your accounts. Cheques/cash deposited in the bank. Withdrawls made by you i.e. you would have issued cheques or withdrawn cash from your account.
When you take a fortnightly/monthly statemens from the bank, such a statement should tally with your accounts. This bank reconciliation.
If both of them do not tally, locate the error and reconcile both the statements.
2006-12-06 01:43:04 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Tallying your account with bank account for all transactions to correct and faithfully reproduced.
2006-12-06 01:25:45 · answer #3 · answered by Meeto 7 · 0⤊ 0⤋
It is to balance your account. Your account statement should match your check registry.
2006-12-06 01:28:26 · answer #4 · answered by rmrndrs 4 · 0⤊ 0⤋