Bank Reconciliation
The process of matching a company’s internal accounting records with its bank statement to identify discrepancies, errors, or missing transactions. Regular reconciliations ensure accuracy in cash reporting and help detect fraud, double entries, or bank errors before they become bigger issues.
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Book Closure
A temporary suspension period during which a company’s share transfer books are closed. It determines eligible shareholders for dividends, rights…
Bank Draft
A payment instrument issued by a bank guaranteeing payment to a specified party. It is commonly used for secure transactions…
Bank Guarantee
Bank guarantee is a promise issued by a bank ensuring that a debtor’s obligations will be met if they default.…
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