The Reconciliation Process Bank reconciliations require business owner to compare their detailed bank statement against the company's internal cash account (which is often a general ledger).

The bank reconciliation process involves reviewing deposits and withdrawals, adjusting the cash balance, and accounting for interest and fees.

The process of preparing a bank reconciliation involves making adjustments to the balances in both the bank statement and the company's records to confirm that the ending balances match and that ...

The reconciliation process allows a business to understand its cash flow and manage its accounts payable and receivable. How often should you reconcile your bank account?

A bank reconciliation statement can help you prepare financial statements, spot fraud and ensure you make business decisions rooted in accurate data. Learn more.

A monthly reconciliation helps to catch and identify any unusual transactions that might be caused by fraud or accounting errors, especially if your business uses more than one bank account.

However, your procedures (or process) are not always a control. To better help illustrate this, consider a hypothetical example regarding a bank reconciliation process.

CBSE Bank Reconciliation Statement Mind Map: View and download here the brainstorming concept map for CBSE Class 11 Accountancy Chapter 5 Bank Reconciliation Statement in PDF format.