Whats Account Reconciliation And Why Does It Matter?
Company A paid $3,750 price of checks into its bank account and debited its money e-book accordingly, however the financial institution has not yet credited the funds to the depositor’s account. As of 30 September 20XX, the ending debit cash steadiness within the accounting data of Company A was $1,500, whereas its bank account showed an overdraft of $500. Bank reconciliation is a course of businesses undergo to establish discrepancies between their bank account statement and common ledger.…See More
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