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Learn Accounts

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Bank Reconciliation

Bank reconciliation is the petty adjustments required in the bank account of your books to make the actual bank balance in the bank statement and your bank account in your books same. When you get the bank statement from the bank, you see some bank charges in the statement and you are to put them in your books, this process of confirming the accounts is called as bank reconciliation.

There can be checks that have been written and recorded in the company's day book, but have not yet cleared in the bank account.

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