Balance per bank

Question

What does Balance per bank signify?

Answer 1

Balance per bank signifies balance that is shown by your bank statement. Therefore, it is also termed as balance as per bank statement. Every transaction in bank statement will be balance per bank. This accounting word is significant since accountant has to match his bank account's balance with balance per bank. Whenever accountant begins the procedure of reconciling the bank statement, he has to add up or deduct his bank account's item according to balance per bank. Some items might affect balance per bank's variations similar to bank errors of amount short written or more written rather than actual written in the bank statement.