online accounting software

Definition:

A bank reconciliation is known as the process of matching and comparing figures from the accounting records to those displayed on a bank statement.

The Purpose

Any transactions that appear in the accounting records but do not appear in the bank statement are said to be 'outstanding'. The items which are outstanding represent possible discrepancies which need to be uncovered.

Discrepancies may include:
  • cheques recorded as a different amount than the bank received
  • money which was received but not recorded
  • payments taken from the bank without the business's knowledge

Performing a bank reconciliation regularly severly reduces the number of errors that can occur in an accounts system and makes it easier to find missing purchases and sales invoices.

Perform a Bank Reconciliation with e-conomic.

An explanation of how to perform a bank reconciliation with the e-conomic application is available for your benefit.
Share Tweet Share Share
Share Tweet
Take a test run

Try out e-conomic free of charge for two weeks. You'll have full access straight away.

Take a 2 week Trial
More than 3,200 accountants

Simple, flexible and secure. That is why more than 3,200 accountants are already using e-conomic to work with clients.

Contact

e-conomic international a/s
Wildersgade 10 B
DK - 1408 Copenhagen K
Denmark
Tlf.:
Fax:
Hotline:
Email:
+45 88 20 48 40
+45 88 20 48 42
+45 88 20 48 41
info@e-conomic.com

e-conomic in brief

e-conomic is an online accounting software used by more than 43,000 companies and 3,200 accountants worldwide - from sole practitioners to large accounting firms. The software is easy to use and flexible, and you can give your accountant free access.