Please discuss this issue on the talk page and edit it to conform with Wikipedia’s Manual of Style. In bookkeeping, a bank reconciliation statement is a process that explains the difference on a specified date between the bank balance shown in an organization’s bank statement, as supplied by the bank, and the corresponding amount shown cost reconciliation statement pdf the organization’s own accounting records.
Otherwise it may be necessary to go through and match every transaction in both sets of records since the last reconciliation, and see what transactions remain unmatched. The necessary adjustments should then be made in the cash book, or reported to the bank if necessary, or any timing differences recorded to assist with future reconciliations. For this reason, and to minimise the amount of work involved, it is good practice to carry out such reconciliations at reasonably frequent intervals.
Reconciliations may be assisted by specialised accounting software. A Bank reconciliation statement is a statement prepared as part of the reconciliation which sets out the entries which have caused the difference between the two balances.