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Bottom line. A bank reconciliation statement is important in managing your busines finances.This document can help ensure that your bank account has a sufficient balance to cover company expenses.
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In accounting, reconciliation is the process of ensuring that two sets of records (usually the balances of two accounts) are in agreement. It is a general practice for businesses to create their balance sheet at the end of the financial year as it denotes the state of finances for that period.
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. It would, for example, list outstanding cheques (ie., issued cheques that have still not been presented at the bank for payment).
In 2008, the Bank Administration Institute transferred copyright ownership of the BAI file format to the Accredited Standards Committee X9, Inc. - Financial Industry Standards . As of early 2009, the document is being revised by an X9 committee of bankers and corporate members to become an American National Standard.
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Microsoft Word's native file formats are denoted either by a .doc or .docx filename extension. Although the .doc extension has been used in many different versions of Word, it actually encompasses four distinct file formats: Word for DOS; Word for Windows 1 and 2; Word 3 and 4 for Mac OS; Word 6 and Word 95 for Windows; Word 6 for Mac OS
As holiday lights brighten streets and the season of cheer unfolds, Dec. 21 marks the winter solstice this year -- a reminder that the darkest day of the year is upon us.. For the more than 6 ...
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