If you have reconciled an account before, you need all of this information except _____ to reconcile a bank account.

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02-12-2021
Business

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If you have reconciled an account before, you need all of this information except _____ to reconcile a bank account.

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jayilych4real jayilych4real · Answer 1 · 2021-12-15T08:21:09+01:00

When a bank account is reconciled, then it means that the bank transactions are checked and compared to the bank statement to be sure that the inflows and outflows tallies and are accurate.

Basically, the steps to reconciling an account are as follows:

Make comparisons of the deposit in the account
If you find any discrepancy, make adjustments on the bank statement
Make an adjustment of the cash account
Make a comparison of the balance.

Please note that your question is incomplete so I gave you a general overview to help you better understand the concept.

Read more about bank statements here:

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