Business Terms and Jargon Explained

What is Bank Reconciliation

This is an accounting statement that reconciles the cashbook and the bank statement. When a payment is received e.g., a cheque, it is recorded in the cashbook. The cheque is then put into the bank account and a few days time the amount will appear on the bank statement. When the cheque is received and recorded in the cashbook, the cashbook balance will then be different to the bank statement on that date. The time delays in transactions and the time that it takes to show on the statements will mean that the two books will have different balances. In addition, bank interest will be on the statement and bank transfers that will not be recorded in the cashbook. A bank reconciliation reconciles both balances.

<- Go Back
Business Terms Home page

Search Jargon and Terms Database

A   B   C   D   E   F   G   H   I   J   K   L   M   N   O   P   Q   R   S   T   U   V   W   X   Y   Z


Search Term   

B2C Doli incapax N379 Civil Court form
Interchange fee Employment contracts Annual bonus
Bank of England Aggravating Suspended sentence
Cable Modem Petition Market Based Pricing
Social justice Baht Value billing
Oxygen-move Civil List Cost per click
London Agreement FTP Eminant Domain
Note Buyers Testatrix UK Business Registration
Puisne Judge CTR Comitology
Paanga Warrant Witness summons
VOIP Executrix-nominate Writ of Restitution
Taka Firewall Federal Reserve
In company Training Refer to drawer Zaire

Term created / updated 2006-05-14 00:00:17

Knowledge is the key to success. That is why we have gone to great lengths to get you these business terms and jargon, and explain them in Plain English. Its very easy to comprehend. Learn to understanding and know your business jargon. This will keep you informed among your peers. Bookmark Your business dictionary.

Copyright © 2004-2020 Scopulus Limited. All rights reserved.