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Bank Reconciliation

   Also found in: Wikipedia 0.03 sec.
Bank Reconciliation
The act or process of recording transactions that have occurred since one received one's bank statement in order to arrive at an accurate account balance. For example, if one spent $1,200 between bank statements, bank reconciliation involves recording those transactions so that they add up to $1,200.


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The person who prepares the bank reconciliation should be different than the one handling cash.
Signing checks and going over the bank reconciliation should not require a major time investment.
Another new feature is the Bank Reconciliation Process, which performs all banking functions, from reconciling checks and deposits to fees and other transactions on the bank statement.
 
 
 
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