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Answer Posted / suresh
@Reconcile means normally at the end of the every period to compare entries in the cash book and compare entries with the pass book.
@The exact causes of difference are scrutinized and then bank statement reconciliation is prepared.
@Necessary suitable entries will passed in the cash book.
3 types of Reconciliation
1. Manual clearing process: In this process we will manually clear the transactions without entering the bank statement into Oracle.
3. Manual Reconciliation
In this process we will manually enter the bank statement into Oracle. We will take the transactions one by one and search for the bank transactions manually and mark the transactions as reconciled.
3. Auto Reconciliation
We will enter bank statement into Oracle and run a program, so that system will search the transactions and will reconcile automatically.
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