bank reconciliation

Fin
a detailed statement reconciling, at a given date, the cash balance in an entity’s cash book with that reported in a bank statement.
EXAMPLE
Bank Reconciliation Statement

The ultimate business dictionary. 2015.

Look at other dictionaries:

  • 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… …   Wikipedia

  • bank reconciliation — a comparison between the bank s record of transactions and the record of the firm s cash book. After taking into account such items as unpresented cheques and bank charges etc., the two records should show an identical balance. Glossary of… …   Financial and business terms

  • bank reconciliation — A periodic *internal control procedure to identify differences between *bank statements and corresponding bank *balances stated in *general ledger *accounts. Errors and timing differences may arise between the accounting of transactions by a bank …   Auditor's dictionary

  • bank reconciliation — /bæŋk ˌrekənsɪli eɪʃ(ə)n/ noun the act of making sure that the bank statements agree with the company’s ledgers …   Dictionary of banking and finance

  • bank reconciliation statement — A statement that reconciles the bank balance in the books of an organization with the bank statement. Differences may be due to cheques drawn by the organization but not yet presented to the bank, bank charges deducted from the account not yet… …   Accounting dictionary

  • Bank Reconciliation Statement — A form that allows individuals to compare their personal bank account records to the bank s records of the individual s account balance in order to uncover any possible discrepancies. Since there are timing differences between when data is… …   Investment dictionary

  • bank reconciliation statement — A statement that reconciles the bank balance in the books of an organization with the bank statement Differences may be due to cheques drawn by the organization but not yet presented to the bank, bank charges deducted from the account not yet… …   Big dictionary of business and management

  • reconciliation — UK US /ˌrekənˌsɪliˈeɪʃən/ noun [C or U] ► ACCOUNTING the process of comparing different financial accounts, amounts, etc. in order to check that they add up to the same total or to explain any differences between them: »We haven t done a… …   Financial and business terms

  • Reconciliation — may refer to:* Reconciliation (Josefina de Vasconcellos), a sculpture by Josefina de Vasconcellos * Bank reconciliation * Reconciliation bill * Reconciliation process * Reconciliation (Accounting) * Confession, or Reconciliation, a Christian… …   Wikipedia

  • reconciliation statement — ➔ statement * * * reconciliation statement UK US noun [C] (also reconciliation) ► ACCOUNTING a document that compares different financial accounts, amounts, etc. in order to check that they add up to the same total or to explain any differences… …   Financial and business terms

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