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Bank Reconciliation Services

  • Bank Reconciliation is a statement prepared to reconcile the balances of cash book maintained by the concern and pass book maintained by the bank at periodical intervals.
  • Bank reconciliation statements ensure payments have been processed and cash collections have been deposited into the bank.
  • Completing a bank reconciliation statement requires using both the current and the previous month’s statements, including the closing balance of the account.
  • The accounts professional typically prepares the bank reconciliation statement using all transactions through the previous day, as transactions may still be occurring on the actual statement date.