Anonymous
Apr 16
When do we record in the bank r/d in the debtors reconciliation ?
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Apr 16
Bank reconciliation is a process used by businesses to ensure that the company's records of its bank account transactions match the bank's records. In the debtors reconciliation process, the company compares its records of amounts owed by customers (debtors) to the amounts recorded in the bank account.
When recording in the bank reconciliation, the company should include any deposits or payments made by debtors that have not yet been reflected in the bank statement. This ensures that the company's records accurately reflect the amount of money owed by debtors and helps to identify any discrepancies between the company's records and the bank's records.
In summary, recording in the bank reconciliation in the debtors reconciliation process should be done whenever there are deposits or payments made by debtors that have not yet been reflected in the bank statement.
When recording in the bank reconciliation, the company should include any deposits or payments made by debtors that have not yet been reflected in the bank statement. This ensures that the company's records accurately reflect the amount of money owed by debtors and helps to identify any discrepancies between the company's records and the bank's records.
In summary, recording in the bank reconciliation in the debtors reconciliation process should be done whenever there are deposits or payments made by debtors that have not yet been reflected in the bank statement.
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