What is Bank Reconciliation?

Bank reconciliation is the process of comparing the bank statement provided by the bank to the records of the company's own accounts. This process is carried out to ensure that the two sets of records are in agreement and to identify any differences.

There are several reasons why the bank statement and the company's records may not match. Some common reasons include:

To reconcile the bank statement and the company's records, the following steps should be taken:

Use the ProperConvert app to make your bank transaction files compatible with your accounting software.

Related articles