>From Wikipedia: Bank reconciliation is the process of comparing and matching figures from the accounting records against those shown on a bank statement. The result is that any transactions in the accounting records not found on the bank statement are said to be outstanding. Taking the balance on the bank statement adding the total of outstanding receipts less the total of the outstanding payments this new value should (match) reconcile to the balance of the accounting records.
Bank reconciliation allows companies or individuals to compare their account records to the bank's records of their account balance in order to uncover any possible discrepancies. Discrepancies could include: cheques recorded as a lesser amount than what was presented to the bank; money received but not lodged; or payments taken from the bank account without the business's knowledge. A bank reconciliation done regularly can reduce the number of errors in an accounts system and make it easier to find missing purchases and sales invoices. See http://en.wikipedia.org/wiki/Bank_reconciliation where you can find some more referrals to this topic ------------------------ Jan www.veritos.nl www.supportandmaintenance.org -------------------- m2f -------------------- -- http://www.openobject.com/forum/viewtopic.php?p=47845#47845 -------------------- m2f -------------------- _______________________________________________ Tinyerp-users mailing list http://tiny.be/mailman2/listinfo/tinyerp-users
