Bank reconciliation
Bank reconciliation is the process of reconciling the checkbook balance with the bank balance given on the bank statement.
Definitions
According to College Accounting: A Practical Approach by Slater (13th edition),
- Bank reconciliation. The process of reconciling the checkbook balance with the bank balance given on the bank statement.
Related concepts
- Accounting (alternatively known as accountancy) is management of financial data, information, and knowledge about financial transactions of legal entities. Accountancy tends to include bookkeeping and, depending on a particilar enterprise, may also include quatitative analysis of financial data in the bookkeeping system and/or business intelligence.
