Definition of 'bank reconciliation'

bank reconciliation in Accounting

(bæŋk rɛkənsɪlieɪʃən)

Word forms: (regular plural) bank reconciliations

noun (count) (noncount)

(Accounting: Commerce)

A bank reconciliation is the process of adjusting a bank statement to show transactions that have occurred since the date of issue, or a document showing this.

The total deficit, as adjusted for bank reconciliation items, amounted to approximately $9,800,000.

The auditor needs to see the bank reconciliations for the past three months.

A bank reconciliation is the process of adjusting a bank statement to show transactions that have occurred since the date of issue, or a document showing this.

bank

Nearby words of 'bank reconciliation'

Source

Definition of bank reconciliation from the Collins English Dictionary

Types of main verb

Verbs of action Most verbs describe an action such as walking, running, or reading. John is running for the train. Sophie has just bought a new camera. She is putting on an exhibition ...