Bank Reconciliation Procedure A bank reconciliation procedure is a critical accounting process that involves comparing a company’s internal financial records against its bank statements to ensure accuracy and consistency between the two. This procedure helps identify discrepancies such as unrecorded transactions, errors in accounting records, or unauthorized bank charges, and it is essential for maintaining
Bad Debt Forecast A bad debt forecast is an estimation of the amount of accounts receivable that a company does not expect to collect from its debtors. This financial projection is crucial for businesses to anticipate potential losses from uncollectible accounts, aiding in more accurate financial planning and risk management. In the realm of business,
Bad Check A bad check, also known as a bounced check or NSF (non-sufficient funds) check, is a check that cannot be processed because the account on which it was drawn does not have enough funds to cover the amount of the check. This situation results in the check being returned to the depositor without