Bank Reconciliation

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Bank Reconciliation

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The procedure for performing a bank reconciliation is to reconcile the bank statement against the bank balance in the PBC database. All the entries on the bank statement must have been processed on the computer including direct debits such as bank charges. If any such direct debits have not been entered into the computer then these items will need to be processed using the general ledger payments with no purchase order. Suggest you use a simple but standard code such as the page number of the bank statement as the identifying document number.

 

There are at least 3 methods of performing a bank reconciliation