Bank Reconciliation
Introduction
Bank reconciliation helps ensure your financial records match your bank statements. It’s a key step in keeping your accounts accurate.
1. What is Bank Reconciliation?
Bank reconciliation is the process of comparing your company’s financial records with your bank statement to find and fix any differences.
2. How to Do Bank Reconciliation
Gather Statements: Collect your bank statement and your financial records.
Compare Records: Match transactions in your records with those on your bank statement.
Find Discrepancies: Look for any differences between the two and figure out why they exist.
Adjust Records: Make necessary corrections to your financial records to match the bank statement.
"Bank reconciliation keeps your finances accurate and your records clear."
