Bank Reconciliation Statement. Learning Objectives. Explain the functions of a bank reconciliation statement Explain the causes of differences of the balance of the cash book and balance in the bank statement Update cash book Prepare a bank reconciliation statement. Cheques receipt
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Direct debit or autopay is the instruction given by the depositor to his / her creditor’s bank to collect the money with a variable amount directly from the depositor’s bank account from time to time.Payment by Bank
It is a statement to highlight
and explain the differences
between the balance of
bank statement and the
balance of the bank
account of the cash
book of a business.
It ensures the users the difference between the balance in bank statement and the balance in cash book can be justified with reasons.