About the title...
Well, I believe that every moment is a chance to reconcile. To start over.
Move from the past, to the present.
Haha.
I'm babbling over here. The title is actually about bank reconciliation.
Bank reconciliation is the process of bringing the bank's monthly report for each depositor, showing deposits made, check written, etc.
Kind of like confessing your sins to the priest, no?
Back to the topic...
Reconciliation statement is putting an agreement that bank statement and checkbook balance.
Again, it's super easy!
You just have to know what to add or subtract from the current balance...
If a deposit was made...you add it to the current balance.
If there's a deposit in transit, you add it the current balance.
If a check was written, you subtract it the current balance.
If there's an outstanding check, you subtract it the current balance.
Simple arithmetic for us to keep track of our bank!
Hope you learned something!
Thank you for reading.
'Til my next post!
Izza
-----checked by Sir Cris Paner a.k.a. the Paint Doctor-----
Tha paint doctor :))) Anyway, hahaha thanks for this post Izza, thank you for sharing your knowledge to the world wide web. :) Don't forget our homework on depreciation. :)
TumugonBurahinIt's a pleasure sharing knowledge on the interwebz. Hihi
BurahinWhat I like most about this subject is that we can apply what we learned on the room at the real world:))
TumugonBurahinYes! Everybody seems to be complaining about math's irrelevance in real life. Haha, they thought wrong!
BurahinI find it interesting how you even discuss a to why you had written the title a such in order to introduce the topic. Anyway, I like how its like a descriptive summary of what its all about.
TumugonBurahinThank you for the comment! I like to keep things interesting for internet people. Hehe
BurahinIt's so easy! Thanks for the very informative post. Keep it up!
TumugonBurahinYou're welcome and thank you for the comment! :D
Burahin