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English definition of “bank reconciliation”

bank reconciliation

noun [C or U]
 
 
ACCOUNTING, BANKING the process of comparing a customer's financial records with those of a bank to make sure that they agree about the amount of money in the customer's account: You will then need to prepare a bank reconciliation, using your latest statement. a bank reconciliation statement
(Definition of bank reconciliation from the Cambridge Business English Dictionary © Cambridge University Press)
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