In Pursuit of ProfitExperts sharing tips about business, money, taxes...
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In Pursuit of ProfitExperts sharing tips about business, money, taxes...
to support your mission and improve profits. See our most recent article below. SUBSCRIBE! >>> |
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![]() As our team explains when discussing the importance of bank reconciliations, The general ledger contains a record of a company’s cash transactions, and a bank statement tracks all money moving in and out of a company’s account. So, theoretically, these two statements should convey the same information and result in the same cash balances. However, in practice, this is rarely the case. Businesses of all sizes need to perform regular reviews, called bank reconciliations, to ensure that these two documents balance.
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