Introduction to Bank Reconciliation Process
These set of articles provide a brief introduction to Bank Reconciliation Process. This topic not only discusses the meaning of bank reconciliation process but also discusses how this process in handled in new age ERPs and Automated Reconciliation Systems.
Bank reconciliation process is targeted to validate the bank balance in the general ledger and one of the most critical controllership processes. Learn the what, why and how of bank reconciliation process. Also get insights into how this is managed in modern ERPs and automated reconciliation systems. Proper completion of the Account Reconciliation Process is fundamental to ensuring the balance sheet is properly stated. Personnel with responsibility for Account Reconciliations hold key Controllership responsibilities.
A quick introduction to Bank Reconciliation Process. A must for folks working on General Ledger, Cash Management, Treasury and other functions involving bank reconciliation. Very good learning tool for IT professionals working on ERPs or automated recon systems to gain functional expertise on bank reconciliation process.
The learning objectives of this capsule are:
Learn the meaning of Account Reconciliation and its importance in controllership process
Meaning of Bank Reconciliation Process and its Importance
Understand the Cash Clearing Concepts and complete Process
Learn the steps in Automated Bank Reconciliation along with steps in Manual Bank Reconciliation
Related Links
You May Also Like
-
Have you ever wondered what is actually a Bank Statement and why it is needed. What is the information that is available in a bank statement?
-
Suspense and clearing accounts resemble each other in many respects but there exists important fundamental difference between the two. Read more to explore these differences.
-
The objective of Financial risk management is to protect assets and cash flows from any risk. Treasury function works to accurately assess financial risks by identifying financial exposures including foreign exchange, interest rate, credit, commodity and other enterprise risks. Learn about the various risks that are managed by treasury.
-
What are the various sources of cash in an organization. Which sources increase the cash available with the enterprise and which sources results in outflow of the cash? Let us explore!
-
Treasury has increasingly become a strategic business partner across all areas of the business, adding value to the operating divisions of the company. Managing activities that were traditionally carried out within the general finance function. Learn about the drivers for this change.
-
Why enterprises need cash management. What is the purpose of having a well defined cash management process?
-
Unravel the mystery behind clearing. Why we use clearing accounts. Find the relevance of word "Clearing" in business context.
-
Account Reconciliation – How? Learn the three key attributes to perfom account reconciliation.
-
The objective of funding Management is to implement strategies that lead to the best borrowing rates and lower investment costs. Learn how treasury aids in loans and investment management functions.
