bank reconciliation

English - English

Definition of bank reconciliation in English English dictionary

making sure the bank statement, checkbook, and books (ledger, journal, etc ) all agree

A report showing the name of each account, the balance per the bank statement for each account, to which is added the outstanding deposits for each account (not credited by the bank) less outstanding checks for each account (all checks expended which have not yet been debited to the account per bank statement) This will give you the reconciled balance for each account A bank reconciliation basically shows the state of the account if all deposits and checks clear the bank

The process of systematically comparing cash balance as reported by the bank with the cash balance on the company's books and explaining any differences

A means of checking that your financial records agree with those held by your financial institution A bank reconciliation also establishes the correct balance in your bank account after adjusting for transactions such as deposits not yet banked and cheques not yet presented

The procedure used to reconcile a company's record of its bank account balance to the record provided by the bank

Making the bank statement balance agree with the checkbook balance

is the verification of a bank statement balance and the depositor's checkbook balance

the corroboration and authentication of an adjusted closing balance for a financial institution’s records of the account balances as of a specific date Then the analysis of those items that are causing the difference between the depositor's records and the balance reported on the bank statement

Verification of a bank statement balance and the depositor\rquote s check book balance

The process of systematically comparing the cash balance as reported by the bank with the cash balance on the company's books and explaining any differences

an analysis that explains the difference between the balance of a checking account shown in the depositor's records and the balance reported on the bank statement (p 386)

Account analysis showing the difference between the bank statement balance and accounting records balance

A report that shows the differences between your checkbook balance and what the bank's balance shows It contains a listing of outstanding checks and deposits that the bank has not yet received All differences between your checkbook balance and the bank's balance should be identified (reconciled)

Verification that your bank statement and your checkbook balance

A formal comparison of the balance in the checking account as shown on the bank statement with the balance of the cash account in the general ledger, at a given date

Verifying that balances in the bank match those recorded in the books of the association and explaining any differences that exist, such as unpresented cheques This is a critical process in achieving financial accountability Example 3 details

Verification of a bank statement balance and the depositor's check-book balance

Report that explains the difference between the book balance of cash and the cash balance reported on the bank statement (See (p 265))

Turkish pronunciation

bängk rekınsîlieyşın

Pronunciation

/ˈbaɴɢk ˌrekənˌsəlēˈāsʜən/ /ˈbæŋk ˌrɛkənˌsɪliːˈeɪʃən/