Meaning of “bank reconciliation” in the English Dictionary


"bank reconciliation" in Business English

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bank reconciliationnoun [ C or U ]

uk us

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.

(Definition of “bank reconciliation” from the Cambridge Business English Dictionary © Cambridge University Press)