Question
What is the purpose of reconciling the bank account? what are you supposed to do with the transactions that did not reconcile?
Answers
By reconciling you make sure that all transactions that went through the bank are also present in your accounting system.  Cash transactions that did not flow through the bank cannot be reconciled using bank statements. Items not reconciled are either pending for the following month or, if they are a mistake or duplicated, they must be deleted.   Your Comment




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