Bank reconciliation is the process of matching and comparing figures from accounting records against those presented on a bank statement. Less any items which have no relation to the bank statement, the balance of the accounting ledger should reconcile (match) to the balance of the bank statement.
Thorough bank reconciliation following balance used to get adjusted....
| Adjustments: | |
| Add: Deposit in transit | |
| Deduct: Outstanding Checks | |
| Add or Deduct: Bank errors | |
| Adjusted/Corrected Balance per Bank |
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