BANK RECONCILIATION STATEMENT
Hello Readers, Happy Wednesday to you all.
How has your week been so far? It is well with all of you in Jesus name-Amen.
Today you will hear Good news in Jesus name-Amen. Okay, so let's get started on
our topic for today....
Bank
Statement is
a book prepared periodically and sent by a Bank to its Account holders, showing
the transactions between the customer and the bank within a period of time. It
shows a summary of the interactions between the Bank, its customer (the account
holder) and others- it can be sent monthly or yearly or on any other agreed
period to the customer.
Purpose of
Bank Statement:
1. To inform the Customer of the transaction
that takes place.
2. It helps the customer to know the position
of his finance with the Bank.
3. It helps to provide customers with a
continuous and permanent record of his account.
Bank
Reconciliation Statement can be defined as a statement that is prepared to reconcile the
disagreement of the cashbook and that of the bank statement. This is needed
when a customer is dissatisfied with the bank statement sent by his/her bank
and therefore wants to
