Bank reconciliation is the process of comparing a company's internal accounting records of cash with its bank statement to ensure they match and identify any discrepancies. This monthly process helps to detect errors, unauthorized charges, missing transactions, and fraud, providing an accurate view of a company's cash position. Key items that cause differences include deposits in transit, outstanding checks, bank service fees, and interest income. #highlightseveryonefollowers #everyoneactive Acc

8 Steps To Prepare A Bank Reconciliation Statement #fblifestyle #accounting #BankReconciliation | Study Point