Reconcile your bank account
How Often Should You Reconcile Your Bank Account?
Ideally, you should reconcile your bank account each time you receive a statement from your bank. This is often done at the end of every month, weekly and even at the end of each day by businesses that have a large number of transactions. Before the reconciliation process, business should ensure that they have recorded…Read More
How Do You Reconcile a Bank Statement?
To reconcile a bank statement, the account balance as reported by the bank is compared to the general ledger of a business. Businesses maintain a cash book to record both bank transactions as well as cash transactions. The cash column in the cash book shows the available cash while the bank column shows the cash…Read More