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Why do you need an Account reconciliation statement procedure?

edited Jun 2, 2025 2:38PM in Ask A Guru 5 comments

Hi

Our bookkeeper performs "Match bank Data" on all our bank records. However, she doesn't perform an "Account reconciliation statement."

What happens when you perform or do not perform this procedure? Where could I see the effect of exposure? Eventually, in the "match bank Data," you reconcile all the banks. So why do you need an Account reconciliation statement procedure?

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