Making mistakes with your accounting can lead to more than just embarrassing situations when checks bounce or you make collection calls to customers and clients who have already paid you.

Portions of this article were drafted using an in-house natural language generation platform. The article was reviewed, fact-checked and edited by our editorial staff. A bank reconciliation statement ...

The process of bank reconciliation is vital to ensure financial records are correct. You don't want any discrepancies between the bank's figures and yours. According to Principles of Accounting, bank ...