bank reconciliation

(redirected from Bank Reconciliations)

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.

bank reconciliation

the process of reconciling an individual's or business's CASH ACCOUNT records of receipts and payments with the BANK STATEMENT record of receipts and payments. These two need not coincide exactly since cheques drawn and received but not yet banked do not appear on the bank statement until a later date.
References in periodicals archive ?
It's a matter of bank reconciliations kasi and usually kapag nagre-reconcile na yan, you are talking about P40 million, P50 million, malalaki, mga bulto ng transactions,' Jimenez said in an interview.
Bookkeeping services include bank reconciliations, monthly invoicing, payroll automation, expense reporting, and even custom report building.
"They are supposed to carry out periodic end closing procedures which include and not limited to capturing revenues received, all payments made, clearing unaccounted transactions and performing monthly bank reconciliations in the system," he said.
"This includes, but is not limited to, capturing the revenues received, all payments made, clearing unaccounted transactions and performing monthly bank reconciliations in the system,' Thugge's letter said.
Key reform areas are to improve debt management and public financial managementincluding undertaking regular bank reconciliations, improving commitment control and cash management, and enhancing the transparency of the budget processand improving revenue administration.
Were bank reconciliations performed in a timely manner and reviewed by someone?
With Tuition Express, the company's integrated payment processing platform, Procare saves schools time and cost, providing seamless bank reconciliations and speedy electronic payment delivery.
She started her career with the city in the finance department as an internal auditor preparing bank reconciliations and maintaining asset records.
"Strengthening public financial management, including through strong commitment controls, routine bank reconciliations, and regular fiscal reporting, remains critical to preventing the misappropriation of public funds and rebuilding trust and confidence in the budget process.
BANKING AND CREDIT NEWS-January 9, 2017-TECOM Group launches automated bank reconciliations
The NCUA audit found unauthorized disbursements from member share accounts, out-of-balance conditions on bank reconciliations and the suspense account, as well as questionable deposits and withdrawals on the manager's personal and related family member accounts, according to Clark.
9) Accounting staff is behind more than 3 months on preparation of monthly bank reconciliations.