How can we Reconcile our Bank Accounts and Statements with Accounting module ?

Morupoju Harish
Morupoju Harish
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Asked on 11/11/17 9:36 AM
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With our “Reconcile Bank Account and Statement” features under the sub menu of bank & cash, you can reconcile your account details.

Atif Habib
Atif Habib
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Answered on 11/29/17 11:54 AM
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A company's cash balance at bank and its cash balance according to its accounting records usually do not match.
This is due to the fact that, at any particular date, checks may be outstanding, deposits may be in transit to the bank, errors may have occurred etc. 
Therefore companies have to carry out bank reconciliation process which prepares a statement accounting for the difference between the cash balance in company's cash account and the cash balance according to its bank statement.

Sai Dinesh Gurrala
Sai Dinesh Gurrala
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Answered on 11/13/17 6:08 AM
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Asked: 11/11/17 9:36 AM
Seen: 428 times
Last updated: 11/29/17 12:01 PM