Bank Reconciliation Statement

A form that allows individuals to compare their personal bank account records to the bank's records of the individual's account balance in order to uncover any possible discrepancies.

Since there are timing differences between when data is entered in the banks systems and when data is entered in the individual's system, there is sometimes a normal discrepancy between account balances. The goal of reconciliation is to determine if the discrepancy is due to error rather than timing.


Investment dictionary. . 2012.

Look at other dictionaries:

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  • reconciliation — /rekansiliyeyshan/ The renewal of amicable relations between two persons who had been at enmity or variance; usually implying forgiveness of injuries on one or both sides In law of domestic relations, a voluntary resumption of marital relations… …   Black's law dictionary

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