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Bank Reconciliation

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31 January 2008 Dear friends Give me more details about Bank reconciliation
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CA. Vineet Grover

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CA. Vineet Grover (Expert)
31 January 2008 Bank Reconciliation

A form that allows individuals to compare their personal bank account records to the bank's records of the individual's account balance in order to uncover any possible discrepancies.

Since there are timing differences between when data is entered in the banks systems and when data is entered in the individual's system, there is sometimes a normal discrepancy between account balances. The goal of reconciliation is to determine if the discrepancy is due to error rather than timing.

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Vineet
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