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  2. Bank reconciliation - Wikipedia

    en.wikipedia.org/wiki/Bank_reconciliation

    A bank reconciliation statement is a statement prepared by the entity as part of the reconciliation process which sets out the entries which have caused the difference between the two balances. For example, it would list outstanding cheques (ie., issued cheques that have still not been presented at the bank for payment).

  3. What is a bank reconciliation statement? - AOL

    www.aol.com/finance/bank-reconciliation...

    A bank reconciliation statement helps you track business finances and ... as well as checks you’ve written that have yet to be cleared by the bank. The end result is the adjusted cash balance ...

  4. Reconciliation (accounting) - Wikipedia

    en.wikipedia.org/wiki/Reconciliation_(Accounting)

    To ensure all cash outlays and inlays match between cashflow statements and income statements it is necessary to carry out reconciliation accounts. [ 3 ] Reconciliation is a process that may benefit businesses as this may help avoid balance sheet errors which may have led to detrimental ramifications; in addition, reconciliation may help ...

  5. Proof of funds - Wikipedia

    en.wikipedia.org/wiki/Proof_of_Funds

    A POF is commonly used when commencing a commercial transactions between parties who do not know each other. The purchaser's bank produces evidence in a standard format that their client is good for a transaction up to the value of xx, based on yy item etc. Usually, such letters have to be produced/verified/confirmed by a class A international bank, as local banks may not have the status ...

  6. What is a mortgage proof of funds letter? - AOL

    www.aol.com/finance/mortgage-proof-funds-letter...

    While a simple bank statement often suffices as proof of funds, you might need to provide more context with an official letter from your bank. Sometimes, the lender has the borrower fill out a ...

  7. General ledger - Wikipedia

    en.wikipedia.org/wiki/General_ledger

    In bookkeeping, a general ledger is a bookkeeping ledger in which accounting data are posted from journals and aggregated from subledgers, such as accounts payable, accounts receivable, cash management, fixed assets, purchasing and projects. [1]

  8. Debits and credits - Wikipedia

    en.wikipedia.org/wiki/Debits_and_credits

    A decrease to the bank's liability account is a debit. From the bank's point of view, when a credit card is used to pay a merchant, the payment causes an increase in the amount of money the bank is owed by the cardholder. From the bank's point of view, your credit card account is the bank's asset. An increase to the bank's asset account is a debit.

  9. Basis of accounting - Wikipedia

    en.wikipedia.org/wiki/Basis_of_accounting

    The two primary bases of accounting are the cash basis of accounting, or cash accounting, method and the accrual accounting method. A third method, the modified cash basis, combines elements of both accrual and cash accounting. The cash basis method records income and expenses when cash is actually paid to or by a party.

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