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 MoreHow 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…
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