What Is The Purpose Of A Bank Reconciliation. Generally, to manually manage bank reconciliation you have to compare the deposits, checks, bank, and credit. A bank reconciliation is the balancing of a company's cash account balance to its.
Chapter 15 bank reconciliation statements the purpose of a bank rec is to check the accuracy of a company’s bank account record, by comparing it with the record maintained by the bank.step 1: Simply put, a reconciliation is how a business makes sure it has the cash it thinks it has. A bank reconciliation is used to compare your records to those of your bank, to see if there are any differences between these two sets of records for your cash transactions.
