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    Bank reconciliation purpose

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    Discuss the purpose of a bank reconciliation. 300 words apa

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    https://brainmass.com/business/auditing/bank-reconciliation-purpose-290327

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    Dear student,

    Discuss the purpose of a bank reconciliation

    Bank Reconciliation statement:

    Bank reconciliation statement is the statement showing the reconciliation between the balance of cash as per the records of the company with the balance of cash as per the records of the bank. In the records of company, General ledger account -cash contains various types of transactions like receipt of cash and checks from the customers, payment of cash and checks to suppliers and other vendors who deals with the company, etc., Likewise, bank also creates the record of company's checking account when it processes company's checks, service charges, deposits and other transactions and at the end of the ...

    Solution Summary

    The purpose of a bank reconciliation is discussed.

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