Bank reconciliation in DNB Regnskap
Here you will find a simple explanation of what bank reconciliation is, why it is important – and how the accounting system DNB Regnskap makes bank reconciliation easier.
What is bank reconciliation – and why is it important?
Bank reconciliation is about checking that the accounts match what has actually occurred in the bank account. All incoming and outgoing payments that are registered in the bank must also be recorded and marked as paid in the accounts. If there are discrepancies, it means that something is missing or has been incorrectly recorded.
For limited companies, bank reconciliation is a requirement, and for all businesses it is an important part of ensuring accurate figures, good control and a sound basis for reporting and annual accounts. Recommended practice is to reconcile regularly, for example at the end of each month, so that errors are discovered early and do not accumulate over time.
How DNB Regnskap helps you with bank reconciliation
