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    ABSTRACT of BRS

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    Krishna
    A bank reconciliation statement reconciles a bank account balance with the financial records by outlining deposits, withdrawals, and other transactions over a period of time. It brings the cash balance according to the ledger into agreement with the cash balance according to the bank statement. Periodically reconciling accounts is important for clerical efficiency and accuracy in bank accounting and helps verify transactions to ensure correctness between the organization and bank.

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    ABSTRACT of BRS

    Uploaded by

    Krishna
    572 views1 page
    A bank reconciliation statement reconciles a bank account balance with the financial records by outlining deposits, withdrawals, and other transactions over a period of time. It brings the cash balance according to the ledger into agreement with the cash balance according to the bank statement. Periodically reconciling accounts is important for clerical efficiency and accuracy in bank accounting and helps verify transactions to ensure correctness between the organization and bank.

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    A bank reconciliation statement reconciles a bank account balance with the financial records by outlining deposits, withdrawals, and other transactions over a period of time. It brings the cash balance according to the ledger into agreement with the cash balance according to the bank statement. Periodically reconciling accounts is important for clerical efficiency and accuracy in bank accounting and helps verify transactions to ensure correctness between the organization and bank.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    572 views1 page

    ABSTRACT of BRS

    Uploaded by

    Krishna
    A bank reconciliation statement reconciles a bank account balance with the financial records by outlining deposits, withdrawals, and other transactions over a period of time. It brings the cash balance according to the ledger into agreement with the cash balance according to the bank statement. Periodically reconciling accounts is important for clerical efficiency and accuracy in bank accounting and helps verify transactions to ensure correctness between the organization and bank.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 1

    ABSTRACT

    A bank reconciliation statement is a summary of banking and business activity that


    reconciles an entity’s bank account with its financial records. The statement outlines the
    deposits, withdrawals and other activity affecting a bank account for a specific period. A bank
    reconciliation statement is a useful financial internal control tool used to thwart fraud.

    This project will explain Bank Reconciliation System referring to bring two separate
    and independent sets of related figures into agreement for example, to· reconcile the cash
    balance according to the ledger with the cash balance according to the bank statement.

    It refers to Encyclopaedia of Banking and Finance, the reconciliation of accounts is


    the verification by a bank of its accounts with deposits: Periodic reconcilement of accounts is
    one of the important tasks of clerical efficiency and accuracy in handling bank accounting
    transactions.

    There are many definitions of the accounts reconciliation but all of them have the
    same meanings. It means to make sure that the transactions occurring with an organization has
    correctness.

    This project will give some ideas about automatic account reconciliation.

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