Accounting
Bank Reconciliation
Definition
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4 Related Terms
What is Bank Reconciliation?
Bank Reconciliation is the process of matching and adjusting the cash balance per books with the balance shown in bank statements to identify differences. Common discrepancies include outstanding checks, deposits in transit, bank charges, and interest earned. Regular bank reconciliation ensures accuracy of cash records, detects errors, and prevents fraud. In Tally, auto bank reconciliation feature matches transactions with imported bank statements.
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