Bank account reconciliation is a highly useful business function. It is a process in which the figures stated in the accounting records of an organization are compared parallel to those represented in a bank statement provided by the bank. This is done so that the amount of cash you possess matches what the bank says you have. Huge discrepancies, especially if ignored, lead to repercussions such as overdrawn bank account, bounced checks and in some extreme cases, your bank account may be...
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