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What does Bank reconciliation really do? What happens when I load my bank statement?
When a company receives its bank statement, it should verify that the amounts on the bank statement are consistent or compatible with the amounts in the company's Cash account in its general ledger and vice versa.
This process of confirming the amounts is referred to as reconciling the bank statement. The benefit of reconciling the bank statement is knowing that the amount of Cash reported by the company (company's books) is consistent with the amount of cash shown in the bank's records.
There are two methods of reconciling your accounts in Express Invoice
For additional information on each method, view the Help Manual.
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