What does bank reconciliation mean?

bank reconciliation meaning in Law Dictionary

Checking if the lender additionally the accounting records have the same cash stability. Pending deals tend to be permitted for. Any huge difference may be remedied.

bank reconciliation meaning in Business Dictionary

review and modification of differences when considering the cash balance shown on a bank declaration, in addition to amount shown into the account owner's files. This matching process involves making allowances for checks issued although not however presented, and for checks deposited but not however cleared or paid. And, if discrepancies persist, finding the cause and bringing the records into contract.