Bank Reconciliation
Bank Reconciliation
What is the purpose of a bank reconciliation? What are the reasons for differences between the cash reported in the accounting records, and the cash balance in the bank statements?
Please use link below in additional info and Wainwright, S. K. (Ed.). (2012). Principles of Accounting: Volume I. for references
400 words
ref and cite the video above and the book
Answer Preview…………….
Bank reconciliation refers to the process of matching and balancing figures in accounting records with the values displayed in the bank statement. It is an essential concept in the management of finances. Bank reconciliation aims to ascertain the variances between the cash book and the bank statement and to record the alterations to the accounting registers as appropriate (Wainwright, 2012)……………………
APA 445 words