Bank Reconciliation Exercise
What is bank reconciliation exercise?
Bank reconciliation exercise is the process of comparing and reconciling the balances on a company's bank statement with its own financial records. It is an important accounting practice that helps ensure the accuracy and integrity of financial data.
What are the types of bank reconciliation exercise?
There are two main types of bank reconciliation exercises: 1. Manual bank reconciliation: This involves manually comparing the transactions recorded in the company's books with those in the bank statement. 2. Automated bank reconciliation: This is done using accounting software that automatically matches the transactions in the company's books with those in the bank statement.
How to complete bank reconciliation exercise
Completing a bank reconciliation exercise can be done by following these steps:
pdfFiller empowers users to create, edit, and share documents online. Offering unlimited fillable templates and powerful editing tools, pdfFiller is the only PDF editor users need to get their documents done.