What is the purpose of a bank reconciliation? Why should it be prepared in a timely manner?

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What is the purpose of a bank reconciliation? Why should it be prepared in a timely manner? Are bank reconciliations still important when using online banking?

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Core Concepts of Accounting

ISBN: 978-0470499474

2nd edition

Authors: Cecily A. Raiborn

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Question Posted: Mar 27, 2015 06:18 AM

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What is the purpose of a bank reconciliation? Why should it be prepared in a timely manner?

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The purpose of bank reconciliation is to ensure that your general ledger cash account a...View the full answer

Core Concepts of Accounting

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