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Bank reconciliation statement?

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Bank reconciliation statement?

Posted by Mehnaza Yaqoob Mehnaza Yaqoob 3 years, 11 months ago

CBSE > Class 11 > Accountancy

1 answers

Gaurav Seth 3 years, 11 months ago

Bank Reconciliation Statement is a record book of the transactions of a bank account. This statement helps the account holders to check and keep track of their funds and update the transaction record that they have made. Bank Reconciliation statement is also known as bank passbook. The balance mentioned in the bank passbook of the statement must tally with the balance mentioned in the cash book. In the statement, all the deposit will be shown in the credit column and withdrawals will be shown in the debit column. However, if the withdrawal exceeds deposit it will show a debit balance (overdraft).

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