Bank reconciliations can help a company to verify that its bank account ending balance per the bank matches the balance on hand per the company's general ledger. The process of preparing a bank ...

Will Kenton is an expert on the economy and investing laws and regulations. He previously held senior editorial roles at Investopedia and Kapitall Wire and holds a MA in Economics from The New School ...

To help reduce financial errors and prevent fraud, many businesses perform a monthly bank reconciliation, comparing the business's bank account statement to the company's general ledger. Understanding ...

General ledger records each transaction both as a debit and a credit, ensuring balance. Understanding the general ledger aids in interpreting financial statements like balance sheets. Investors can ...