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Bank account out of balance treatment
Hi All,
Could anyone help me please, to know the treatment for the out of balance in the bank account at the end of the year.
Replies (4)
What do you mean by "out of balance in the bank account", Is it Nil balance or Credit Balance?
Hi Sir,
Out of balance means, bank is not reconciling with the accounting books and I would want to know how to reconcile it.
That why, I asked? Because you should first tally each and every entry of your account books with that of Bank's statement. You may first check monthly closing balances to sort out where the apparent mistake is.
Ok Sir, thank you so much for your answer and clearing my doubt.
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