Overview:

The process of matching the balances in an entity's accounting records for a cash account to the corresponding information on a bank statement. The output of this process is to identify the differences between the two, and to book entries to the accounting records as needed.

Benefits:

• Assists with balancing each bank account
• Helps to identify and correct accounting or bank errors

Roles:

• Accounting Manager
• CFO

Location:

• PENTA Web > Accounting Module > Bank Reconciliation

Video: