Question

what is bank reconciliation statement

Answer 1

A bank reconciliation statement is a summary of banking and business activity that reconciles an entity's bank account with its financial records. The statement outlines the deposits, withdrawals, and other activity impacting a bank account for a specific period..

Answer 2

a bank reconciliation is the process of matching the balances in an entity's records for cash accounts to the corresponding information on a bank statement.the goal of this process Is to ascertain the differences between between the two,and to book changes to the accounting records as appropriate
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