What is Bank reconciliation and why do we prepare bank reconciliation?

Bank reconciliation is the process of comparing a company's financial records with bank statements to ensure accuracy.

• Identifies discrepancies between the company's records and bank statements.

• Helps i...read more

Bank Reconciliation Statement

for reconcilling the balance as shown in the cash book and passbook

It is a statement reconciling the balance as shown by bank passbook and the balance as shown by the book

Reconciling the bank balance as per pass book with the balance as per cash book is know as Bank reconciliation statement