What is bank reconcilation statement?
It shows the adjustments done to reconcile the final figure on the bank statement of a business, to that of the balance of the bank account that appears on the company's financial statement. The figures may be different as a firm may send out a cheque and while the amount the cheque was written for may be deducted from the company's financial statements, the person who received the cheque may not of cashed it so it does not appear on the bank statement.
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