Is bank reconcilation necessary for any organization ?
If yes, when should that performed ?
- 4 Answers
- 5010 Views
- I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / prasad s
yes it is very important because without bank reconcialation
accounts can not be closed. so the reason we have to take
the bank statement from banks and ready to bank
reconcialation and what ever the balance in your bank book
balance and the bank statement should match each other. then
only BRS is correct.
| Is This Answer Correct ? | 13 Yes | 0 No |
Answer / sakthi arunarm
yes it is very important because without bank reconcialation
accounts can not be closed. with the help of the bank statement only our account is corrected by correct data due to some delay of work. then only BRS is correct
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / monika khandelwal
yes
bank reconciliation is very important for every
organization..because its helpful in verify cash & bank
balance..it should be done on monthly basis..without the
reconcile your bank balance, your final accounts is not
correctly presented...
| Is This Answer Correct ? | 0 Yes | 0 No |
What is the difference between internal audit and statutory audit?
when can we change the Depreciation Method? and what is the requirements.
does current year losses of rs 500000 prove that a company lacks going concern
Does anyone work for the CA state as an Auditor? I am a new college graduate and I need some tips on what questions I will be asked during the interview for the Auditor 1 position. Can anyone help?
what is mat calculation ?
Whats are the importance of evaluating an internal audit department?
What are the basic rules in accounting.
If calls in arrears are presented in the balance sheet in the last year, but they were not received. So how to give the accounting treatment?
If a charity is required to have an audit carried out due to the level of incoming resources or expenditure, but then is below the threshold in the following years, is an audit still required?
while calculating drawing power for the purpose of cc limit ,while deducting creditors from stock whether to consider debit balance of creditors ,in total of creditors' credit balance ?
what is the expence for producing 1 megawatt energy
what is the debit and credit
Audit 
