Banking Dictionary:

Account Reconcilement

Cash management service for business customers. Typically, the customer receives a paper or electronic listing of checks paid, checks still outstanding, and account balances by date. This service reduces the company's clerical costs, and also functions as an outside audit control over funds collection and disbursement.

 
 
 

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Banking Dictionary. Dictionary of Banking Terms. Copyright © 2006 by Barron's Educational Series, Inc. All rights reserved.  Read more

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