What does the word reconcile mean in terms of banking?
The process of comparing and reconciling accounting records with the records presented on the bank statement. Sometimes disrepancies between the records might occur due to the timing differences when the data is recorded in the accounting and in the bank books. The purpose of bank reconciliation is to check whether the disrepancies are due to timing rather than error
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It's when a bank reduces the balance on your mortgage whether on their own accord or through a company that does that for a living. Either way, you end up owing less.
Either pay it or come to an agreement with the company.. Answer . If you are reconciling a cash account, it means to identify all of the differences between your balance and the bank's balance. Your checkbook might show $100 balance but the bank says you have $109. Why? Because you wrote a $10 c…heck that has not been cashed, and the bank charged you a $1 fee that you didn't know about. So you subtract the fee, bringing your checkbook balance to $99, and when that outstanding check hits the bank, they will also show $99.. If you are reconciling some other account, like accounts receivable, this is normally done by preparing a detail schedule, a listing of all customers and their balances - the total should agree with the total ledger balance. (MORE)
Ending bank account balance per bank statement - add deposits made before and upto the date of the ending balance on the bank statement that are not on the bank statement - subtract checks and other expenses (debit cards, etc) made before and upto the date of the ending balance on the bank statement… that are not on the bank statement - the end result is the reconciled bank account balance.. 'Bank reconcilation statement' means veryfying / realising every transactions done with bank. It may be related with payment made or credit received or particular interest charged or received. (MORE)
A non-derogatory account is a bank account (typically a credit account) which is current and has experienced no late payments in the last 36 months. Non-derogatory from a banking standpoint basically means that an account is OK.
'Bank reconcilation statement' means veryfying / realising every transactions done with bank. It may be related with payment made or credit received or particular interest charged or received.
It means to make sure the numbers the bank statement has matches the numbers you have.
Mom was always trying to get my brother and I to reconcile , "Kiss and make up you two" she would say, even with her last breath she had said, "You two will be the death of me yet, with all your fighting and bickering, go on you two, forgive and forget!"
Quicken makes it simple to reconcile accounts using their software.It is almost like using a computerized checkbook register. Manycategories are already installed for you.
A banker or bank is a financial institution whose primary activity is to act as a payment agent for customers, and to borrow, lend, and, in all modern banking systems, create money. Source: http://en.wikipedia.org/wiki/Bank.
1. To reestablish a close relationship between. 2. To settle or resolve. 3. To bring (oneself) to accept: He finally reconciled himself to the change in management. 4. To make compatible or consistent: reconcile my way of thinking with yours. See Synonyms at adapt Another answer: Th…e dictionary definition of the English word "reconcile" doesn't do justice to the original Greek word katallasso , which means: 1. to change, exchange (as coins for others of equivalent value) 2. to reestablish a relationship between those at variance 3. to return to favor with 4. to receive one into favor In order to "reestablish a close relationship between those at variance" (God and man - see Romans 5:10 ), Jesus "exchanged" Himself for mankind, taking the punishment for sin though He was sinless. This made it possible for man to be reconciled to God ( 2 Corinthians 5:20 ) through faith in Christ ( Romans 5:1 ). Matthew 20:28 - just as the Son of Man did not come to be served, but to serve, and to give His life a ransom for many . [NKJV] (MORE)
A Bank reconciliation is a process that explains the difference between the bank balance shown in an organization's bank statement, as supplied by the bank, and the corresponding amount shown in the organization's own accounting records at a particular point in time.
Reconciliation is when two people make up from a fight. If they arein a dispute and they choose to move on and let it go, theyreconciled.
send to me comapny.900 file to my email i will tell you your password . my email id is email@example.com
It shows the adjustments done to reconcile the final figure on the bank statement of a business, to that of the balance of the bank account that appears on the company's financial statement. The figures may be different as a firm may send out a cheque and while the amount the cheque was written for …may be deducted from the company's financial statements, the person who received the cheque may not of cashed it so it does not appear on the bank statement. (MORE)
\nThe two people after there divorce reconciled after 5 years. \nThe two people after there divorce reconciled after 5 years
to reconcile is to make up. to make peace with something orsomeone. It means to settle or to bring something to accept It sort of depends on what you're saying. Like if you got in afight with a friend then reconcile would mean- to forgive eachother or to come to an agreement. In accounting or measur…ement it can mean to bring numbers intoagreement; e.g. the CPA reconciled his client's profit and lossstatements. (MORE)
It means to make up with someone after having fallen out with them. It could also be between any group of individuals. Countries or organisations can reconcile their differences over something, not just individuals.
to reconcile is to make up. to make peace with something or someone.. It means to settle or to bring something to accept
source: yahoo answers In order to reconcile with Juliett Romeo realized what he needed to do to make ammends. Even though Rodney stole her money,wrecked her car,and ran off to Mazatlan with her best friend,Candy still held out hope that they could one day reconcile.
Reconciliation is were people forgive eachother.. For Example;. Lauren and Amy are great friends but they have broken friends, So I sit them down and reconcile with them. Now they are great friends once more.
Because they obviously reflect funds that are going to be unavailable once the checks are presented for collection. Your bank still shows this money in the account because they have not been presented the checks yet.
Do you mean "reconciliation" Well if that what you meant, The definition for reconciliation is - the reestablishing of cordial relations.
It depends on how many items are going theough the account and how often you need to reconcile. Many banks only produce personal statements on a monthly basis and so a monthly reconciliation may be OK. If you need to definitely see what is in your bank account more often than monthly then see if the… bank will produce the statements on a fortnightly or even weekly basis. (MORE)
It depends on how big the turnover of the account is and when the Bank produces the Bank Statements for you. If the number items of income and expenditure going through the account are only a few in a month then do it monthly. If there are a lot then you might want to consider doing it fortnightly o…r even weekly. If the Bank only produces statements for you on a monthly basis then you are probably stuck with doing it monthly. (MORE)
It occurs when a country's total imports of goods, services and transfers is greater than the country's total export of goods, services and transfers. This situation makes a country a net debtor to the rest of the world.
Well, first of all i think it wouldn't make no sense if they had not reconciled
\nIt means to make sure the numbers the bank statement has matches what you have.
Some old attachments and habits die hard. Maybe it was just for old times and good-bye sex.
credit is the trust which allows one party to provide resources to another party where that second party does not reimburse the first party immediately (thereby generating a debt), but instead arranges either to repay or return those resources (or other materials of equal value) at a later date. Th…e resources provided may be financial (e.g. granting a loan), or they may consist of goods or services (e.g. consumer credit). (MORE)
Using cheque numbers to find which ones have been presented (appearing on the bank statement)
This is mainly done when your cashbook balance doesn't match with the statement balance. But some companiess also follow the principle for security sake. Also, if you are well aquainted with accounts, you would find that there are many mistakes even after which you may have the same balances in both… the books. like there may be an error in bith the books of the same amount etc. (MORE)
A savings and especially a checking bank account have constant deposits and withdrawals, including debits and checks against the account. To reconcile an account is to start from the last monthly balance, add in all deposits, subtract the debits, checks, and withdrawls. Further, it usually means doi…ng each one by one, to arrive at the correct current balance which should match the bank's stated balance. (MORE)
it means that in your account their is 1 to many transcation is made and to make an entry the bulk posting is made .
It is a definition of something, i.e., "Since the man pulled the baby from the burning house, he is termed a good person."
'Irrevocable' generally refers to trusts and not to bank accounts. In your case it could signify that the account is owned by an irrevocable trust.
The first meaning of a word is referred to as "denotative meaning". This is the dictionary definition. The second meaning of a word is referred to as "connotative meaning". This is not in the dictionary.
Why do you need to reconcile your checking account promptly when you receive a monthly bank statement?
b/c its matching your checkbook register w/ the bank statement:to make sure all checks have cleared as well as withdrawls, online bill payments and fees tothe bank are subtracted from your account& shows all balances added to your account:in terms you and the bank have the same amount records.
To reconcile means to make amends, to resolve or accept something. Here are some sentences. . They tried to reconcile their differences. . He should reconcile himself to being a B student instead of an A student. . Let's reconcile this problem before we end the meeting.
MT Stands for Money Transfer in banking terms. A Money Transfer is a transaction wherein money is transferred from the bank account of one customer into the bank account of another customer. For Ex: let us say I owe you Rs. 5000/- which I borrowed last month and I know your bank account number. I c…an just login to my bank account and transfer the money to your account using the MT facility (MORE)
Basel III Accords or Basel III Rules are a bunch of rules that are defined for banks to follow a certain set guidelines to ensure that they can operate at the best possible fashion. The Basel requirements define: a. Liquidity Ratios b. Capital Requirements c. Counterparty Credit Risk requirements… d. Leverage Ratios e. Etc That is essential to maintain the healthy running of a bank. (MORE)
Null defines the value in a banking account as zero, no value. Zeroor null are used to state the same idea on banking and investmentdocuments.
This is when money has been deducted from a person's account butthe payee has still not received the money. If you get a bankstatement during this time it would be "cas pres chq."
To make amends or put relationships right. If a person is not reconciled to God they have no hope for a good life on Earth or eternal life with Christ after death.
I think you mean irreconcilable differences. If so, irreconcilable differences are differences between spouses that are considered sufficiently severe to make married life together more or less impossible. In a number of states, irreconcilable differences is the accepted ground for a no-fault divorc…e. As a practical matter, courts seldom, if ever, inquire into what the differences actually are, and routinely grant a divorce as long as the party seeking the divorce says the couple has irreconcilable differences. (MORE)
The purpose of reconciling your bank statement is to ensure that the deposits and withdrawals made during the previous statement period are accurate and up-to-date. It also helps you to maintain working knowledge of your balance by indicating what withdrawals (e.g. checks you have written) have not …yet cleared your account. (MORE)
Exception processing in banking is simply when an item is processed as an exception to normal practices and as a courtesy to the customer. For example, you have written a check for an amount slightly higher than your bank balance and it is cleared through your account rather than being returned NSF.… This might result in an overdraft or additional service charges but saves you the embarassment of the NSF check and NSF charges. (MORE)
Here is a link to a glossary of banking terms. Click the link in 'Related Links'.
Electronic banking is a term used to cover all finacial transactions conducted away from a physical bank and includes telephone banking and automated banking,However most people regard the term as meaning banking carried out online via a PC or Laptop.An individual can set up direct debits ,wire mone…y or any other sort of banking transaction over a secure internet connection.This can be a great benefit to people who live a considerable distance from a bank,or would otherwise find it difficult to access a locac branch of their bank due to disability. (MORE)
In a bank reconciliation statement, receipts refers to deposits that have been made to the account in the given time period (received by the account). Payments refers to debits to the account such as ATM withdrawals and checks written.
"Bank capital" is the net worth of the bank, or its value to investors. It includes retained earnings, reserves, hybrid capital instruments, subordinated term debt.