Question

Can you help me to understand credit memo and debit memo in the bank reconciliation?

Answer 1

credit memo in bank reconciliation is an item on company's bank statement that increases company's checking account balance .or in other words increase in company's checking account balance.

debit memo is an item on company's bank statement that decreases company's checking out balance.

Hope this will be useful to you☺if u find anything wrong in my answer jus inform me and I will surely rectify it☺