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Is there any significance between Bank Reconciliation and
Account Reconciliation in Accounts?
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Answer Posted / lxmi1972
Yes. There is a small difference between the Bank
Reconciliation and Account Reconciliation.
In Bank Reconciliations, Bank statement and the Bank books
are matched and the open items will be arrived at whereas
in the Account Recociliation, General Ledger, external
evidences like Debit Memos,Credit Memos, are verified and
the reconciliation is arrived at.
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