A bank reconciliation statement is a summary of recent banking activity that is used to reconcile personal or business records against the bank's record of transactions. A bank reconciliation ...

Consider keeping bank statements and canceled checks for up to three years if you need the documents for proof of purchase, ...

Example of Account Reconciliation Here's a ... it notices a discrepancy between its ledger balance of $10,500 and the bank statement showing $10,200. Upon review, ABC finds: A $500 check that ...