17/05/2026
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1. Question:
Why does your bank balance not match your accounting records?
Answer:
The bank balance may not match due to outstanding checks, deposits in transit, bank charges, or data entry errors in the accounting system.
2. Question:
What are common reasons for differences between bank statements and bookkeeping records?
Answer:
Common reasons include missing transactions, duplicate entries, unrecorded bank fees, timing differences, or incorrect transaction categorization.
3. Question:
How can you fix a bank balance mismatch issue?
Answer:
You can fix it by performing bank reconciliation, checking each transaction carefully, correcting errors, and updating missing entries in the records.