Understanding Bank Reconciliation
Bank reconciliation can be the toughest part for bookkeeping. For some bookkeepers, bank reconciliation is fun, but for the others it is nothing but a boring job. Irrespective of how the professionals see it, it has always been the most essential operations. Even the checks which are lately processed can be bounced.
Knowing the concept of bank reconciliation
The bank reconciliation is the process of accounts and giving enough details to the discrepancies. You should consider that the discrepancy in the balance may be due to the timing brought differently in registering the information in the books and in your company’s books. Such discrepancy is a normal or typical situation and is rectified automatically within the small time...