Bank Reconciliation – A Necessity for Accurate Financial Statements

Bank reconciliation compares the data from financial records about cash accounts with the details from bank statements.

The Melbourne Bookkeeper in the companies will manage their cash savings and maintain appropriate balance with reconciliation.

The general ledger, for example, is a financial statement that shows how much money a company needs. Since bank statements are an actual image of completed transactions at a specific moment that changed the company’s accounts, they indicate how much profit a company have.

We need to understand two concepts: bank statement and ledger, to keep the right money balance.

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