When you receive a monthly statement from the practice's bank, you should first reconcile the bank statement with the practice's own checkbook balances and contact the bank if you notice any discrepancies. review the caption for the total value of checks processed, the total amount of deposits made, the account's beginning and ending balance, and that month's closing date. reconcile the bank statement with the practice's own check balances and contact the bank if you notice any discrepancies, AND review the caption for the total value of checks processed, the total amount of deposits made, the account's beginning and ending balance, and that month's closing date. note when the account was opened and compare this date to the date listed in your records. initial and file the statement with other financial records. Explain Financial records.?

Answer rating: 100% (QA)

Financial records refer to the documents and information that are maintained by a business or organization to track its financial transactions activit... View the full answer