bank reconciliation definition

bank reconciliation

Analysis and adjustment of differences between the cash balance shown on a bank statement, and the amount shown in the account holder's records. This matching process involves making allowances for checks issued but not yet presented, and for checks deposited but not yet cleared or credited. And, if discrepancies persist, finding the cause and bringing the records into agreement.

bank reconciliation is in the Accounting & Auditing and Banking, Commerce & Finance subjects.

bank reconciliation appears in the definition of the following term: reconciliation

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