Concept of Bank Reconciliation Statement

@angnima (772)
February 20, 2007 5:51am CST
The difference between the firm's Cash Book and the Bank Pass Book balance need to be explained. For explaining the difference between the Cash Book and Pass Book balance,reconciliation is required to be prepared.And such reconciliation is called a Bank Reconciliation. A Bank Reconciliation is a schedule explaining any difference between the balance shown in the Bank Pass Book and the balance shown in the Cash Book.
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