Bank Reconciliation
Bank reconciliation is the process of comparing the balance on a company's bank statement with the balance in its own accounting records (usually in a general ledger) to ensure that they match.
What is Bank Reconciliation?
Bank reconciliation is the process of comparing the balance on a company's bank statement with the balance in its own accounting records (usually in a general ledger) to ensure that they match. This process helps to identify any discrepancies between the two balances and to reconcile them by adjusting the accounting records accordingly.
NetSuite bank reconciliation is a process that allows businesses to automatically match their financial transactions against those recorded by their bank and/or financial institution. With a native SuiteApp like ZoneReconcile, finance and accounting teams can simply upload their bank statements or set up a bank feed to automatically create and match everything from bills and credits to prepayments, direct debits, and expense claims.
