Bank Reconciliation Process

Bank Reconciliation Process

Bank Reconciliation is a PROCESS to Validate the bank balance in the general ledger With Bank Statement. Learn the bank recon process.

Bank Reconciliation Process

Bank reconciliation process is targeted to validate the bank balance in the general ledger and explain the difference between the bank balance shown in an organization's bank statement, as supplied by the bank, and the corresponding amount shown in the organization's own accounting records at a particular point in time.

This process is performed by a company to ensure that the company's records (check register, general ledger account, balance sheet, etc.) are correct with the bank's records and to ensure timeliness, accuracy and validation of transactions posted therein.

Bank Reconciliation is a PROCESS

  • Validate the bank balance in the general ledger
  • With Bank Statement &
  • Explain the difference

To Ensure –

  • Accuracy of Company's Records
  • Validation of transactions posted therein.
Bank Reconciliation Process

cashmgmt

Related Links

You May Also Like

  • Cash Management Process

    Cash Management - Process

    How the inflow and outflow of cash is linked to the operating cycles of the business? Learn the cash management process in an enterprize and it's key components.

  • Disbursement Float

    Disbursement Float

    Disbursement Float is the time taken from payment creation to settlement. Collection float is the sum total of time taken by Payment Float; Mail Float; Processing Float and Availability Float. Learn more!

  • Clearing V/s Suspense Account

    Clearing V/s Suspense Account

    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.

  • Cash Management - Benefits

    Cash Management - Benefits

    Effectively using cash management with trade finance products brings tangible benefits to both corporates and financial institutions.Learn the various benefits of cash management process.

  • Automated Clearing

    Manual Clearing

    In manual clearing, Bank statement details are to be matched manually considering certain rules. Learn the steps involved in manual clearing of bank transactions.

  • Bank Statement Lines

    Bank Statement Lines

    So many codes in the lines that are there in a Bank Statement. It contain lots and lots of meaningful information that can help automated many tasks. Explore more!

  • Cash Management Float

    Float

    To understand cash management, one must understand FLOAT. Float is the most critical component in Cash Management. Learn about cash float in this article.

  • Bank Differences

    Differences – But Why?

    Bank reconciliation process is targeted to validate the bank balance in the general ledger and explain the difference between the bank balance shown in an organization's bank statement. Learn the reasons for existence of differences between the two.

  • Treasury - Cash Management

    Treasury - Cash Management

    The Cash Management component ensures that the enterprise has sufficient liquidity for payments that are due and to monitor payment flows. Learn how treasury plays an important role in cash management for the enterprise.

  • Bank Reconciliation Process

    Bank Reconciliation Process

    Bank Reconciliation is a PROCESS to Validate the bank balance in the general ledger With Bank Statement. Learn the bank recon process.

Explore Our Free Training Articles or
Sign Up to Start With Our eLearning Courses

Subscribe to Our Newsletter


© 2023 TechnoFunc, All Rights Reserved