Account Reconciliation – How? Learn the three key attributes to perfom account reconciliation.
Account Reconciliation Process
Validation of the accuracy of an account balance is achieved by doing financial verification as well as physical inspection.
Confirmation is done with other parties and/or other procedures are performed on a periodic basis to complete reconciliation process.
The three steps are depicted in the attached image.
The topic for this lesson is "Introduction to Cash Management Process". We start with the learning objectives for building requisite functional expertise in cash management process.
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Before we dive into cash management, let us fist understand what we mean by cash and what constitutes cash in context of cash management process.
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What is Account Reconciliation?
Before you understand the Bank Reconciliation Process it is important to understand what is account reconciliation and why it is carried out.
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