On a bank reconciliation, the amount of an unrecorded bank service charge should be deducted from the book balance of cash
The process of reconciling information about cash accounts from accounting records to the corresponding information on bank statements is known as a bank reconciliation. Simply described, a reconciliation is the process by which a company confirms that it has the cash it believes it has.
While a bank reconciliation statement is the official record that a corporation creates to keep for its own records, the word "bank reconciliation" actually refers to the process of confirming and adjusting cash movement. As part of the fundraising process, partners or financiers could demand bank reconciliation statements.
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