A customer has a duty to reconcile his/her checking account on a periodic basis. This means, in
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A customer has a duty to reconcile his/her checking account on a periodic basis. This means, in effect, that the customer must:
Make sure his/her personal record of transactions matches that of the bank.
Ensure there is enough money in the account to cover all drafts.
Reimburse the bank for overdrafts.
Send the bank a monthly written summary of all transactions.
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date: