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Answer Posted / dipayan dey
Bank reconcilation system. A bank reconciliation statement
is a statement prepared by organizations to reconcile the
balance of cash at bank in a company's own records with the
bank statement on a particular date. Bank Reconciliation
Statement process is being outsourced to professional
accounting firms by large organizations. This helps them
have an accurate view and also ensure that the company's
bookkeeping is good. Accounting firms make monthly
reconciliation statements for clients and help them
determine any discrepancy.
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