Bookkeeping

    Bank Reconciliation

    Definition

    The process of matching transactions in your accounting system to the bank statement, identifying discrepancies, and adjusting for timing differences (outstanding checks, pending deposits).

    Why it matters

    Unreconciled accounts are the #1 source of inaccurate financials. A business that cannot tie its cash to the bank cannot trust any other number on its balance sheet.

    Where this comes up

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