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Why there is a difference between cash account in the campony's book and bank statement balance in bank?
The cashbook (account) in the company's books reflects all cheques written to suppliers and all cheques received from customers. However, the bank statement balance shows only cheques that have cleared.
So at any date there can be a difference between the cashbook and the bank statement, comprising of cheques issued and/or cheques received but yet to clear and be debited/credited to the bank balance.
There may also be differences due to accounting errors or omissions. In doing a bank reconciliation these differences can be identified and corrected.
What else can I help you with?
What is the difference between the remaining statement balance and the statement balance on my account?
The remaining statement balance is the amount left to pay after the statement balance has been paid. The statement balance is the total amount due on your account at the end of the billing cycle.
What is the difference between my current balance and my remaining statement balance?
Your current balance is the total amount you owe on your account at the moment, while your remaining statement balance is the amount you still need to pay from your last billing statement.
What is the difference between the statement balance and the current balance on my account?
The statement balance is the amount you owed at the end of the last billing cycle, while the current balance includes any recent transactions or payments made since the statement was issued.
Are the income a balance sheet account?
Income is an income statement account and shown in income statement and not a balance sheet account.
What is the difference between my pay statement balance and my current balance?
Your pay statement balance is the amount you have earned from work, while your current balance is the total amount of money in your account, including any additional deposits or withdrawals.
What is the difference between the remaining statement balance and the current balance on my account?
The remaining statement balance is the amount you owed at the end of the last billing cycle, while the current balance includes any new transactions since then.
What is the difference between my current balance and the remaining statement balance?
Your current balance is the total amount of money in your account at the moment, while the remaining statement balance is the amount you still owe on your credit card after the last billing cycle.
A statement of money received and paid with a balance?
A statement of money received and paid with a balance is an account.
Difference between outstanding balance and Statement Balance?
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Why there is a difference between cash book and bank statement balance in bank?
There may not be difference between cashbook and bank statement balance in bank if all the payments and remittances are debited and credited in the bank account on the month itself.It may not be possible under certain circumstances. For example if a check has been paid to the customer and if the customer has not deposited the check in his/her account naturally the bank account will show an excess balance corresponding to the check in question.Similarly if a check remitted in the account needs clearing from other bank there also possibilities for difference.
What is the total account debt as of the statement date called?
The total account debt as of the statement date is called the balance.
Does account payables appear on the income statement?
NO, Account payable is a balance sheet item it does not appear in the income statement.
