Discuss on Bank Reconciliation

General objective of this article is to Discuss on Bank Reconciliation.¬†Banks usually send customers a new monthly statement that indicate the account’s beginning stability, all transactions that have an impact on the account’s balance through the month and the account’s stopping balance. The ending balance over a bank statement almost never will follow the balance in a new company’s corresponding general journal account. After receiving the bank statement, the company prepares a new bank reconciliation, which identifies each difference between the company’s records and the particular bank’s records.