What is reconciliation?, Accounting Basics

Assignment Help:

You should have recorded in your cash books all amounts you've really received and payments you've really made. Though the cash books may be incomplete as your bank may have put extra transactions by your account such as:


? bank fees or interest charges
? direct debits (payments) and direct credits (receipts).

Doing a regular bank reconciliation will permits you to:

? take into account any extra transactions your bank puts by your account and
? check and record any errors or omissions.

 


Related Discussions:- What is reconciliation?

Explain about accrual basis and periodicity, Q. Explain about Accrual basis...

Q. Explain about Accrual basis and periodicity? Accrual basis and periodicity demonstrated that financial statements more accurately reflect the financial status and operations

Define the opportunity cost, Q. Define the Opportunity cost? Opportunit...

Q. Define the Opportunity cost? Opportunity cost -- a useful notion in evaluating alternate opportunities. If you choosealternative A, you can't choose B, C, or D. What is the

Student, In Excel, I need help with formulas

In Excel, I need help with formulas

Prepare the accounting journal and fasb, Scanlon Technologies, Inc. Ann...

Scanlon Technologies, Inc. Anne Scanlon founded Scanlon Technologies, Inc., in 1993. The company designed andmanufactured high-tech products that were used in various industrie

How to figure the discount using calculator, How To figure the discount usi...

How To figure the discount using calculator 1.  Be sure that decimal selector is on 2 decimal places 2.  Key in amount of the sale 3.  Multiply by percent (use the percent key)

Accounting process in operation, Accounting process in operation Micro ...

Accounting process in operation Micro Train Corporation is a small corporation that provides on-site personal computer software training using the clients' equipment. The compa

Example of accumulated depreciation account, Q. Example of Accumulated Depr...

Q. Example of Accumulated Depreciation account? Along with other items the trial balance of Korman Company for 2010 December 31 includes the following account balances

Ledger, ledger is said to be the principal book entry and the transactions ...

ledger is said to be the principal book entry and the transactions can even be directly entered into the ledger account. elaborate on the statement and explain why journal is neces

Periodicity concept, Though the results of the operations of an exact enter...

Though the results of the operations of an exact enterprise can be termed as precisely only after the business has ceased to control, its assets have been sold off and responsibili

Show recording changes in assets, Q. Show Recording changes in assets? ...

Q. Show Recording changes in assets? Recording changes in assets, liabilities, and stockholders' equity While recording commerce transactions remember that the foundation of

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd