BANK RECONCILIATION

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Definitions

the bank reconciliation is to show the name of each account, the balance per bank statement for each account, to which is added the outstanding deposits for each account (not credited by bank) less outstanding checks for each account (all checks expended which have not yet been debited to the account by bank statement). This will give you the reconciled balance for each account. A bank reconciliation basically shows the state of the account if all deposits and checks clear the bank. (BPL 4 Dec 72RA II)