a comparison between the bank's record of transactions and the record of the firm's cash book. After taking into account such items as unpresented cheques and bank charges etc., the two records should show an identical balance. Glossary of Business Terms
* * *
explaining the differences between the amount of money you really have in your bank account and the amount shown in your bank for example by taking into account cheques you have written that have not yet been paid:
• The product offers all the things you would expect from a home finance software package, such as bank reconciliation.
* * *
bank reconciliation UK US noun [C or U]
► ACCOUNTING, BANKING the process of comparing a customer's financial records with those of a bank to make sure that they agree about the amount of money in the customer's account: »
You will then need to prepare a bank reconciliation, using your latest statement.
»a bank reconciliation statement
Financial and business terms. 2012.