A manager of a small online business believes that now most of their transactions take place using
Question:
A manager of a small online business believes that now most of their transactions take place using electronic transfer of funds rather than cash or cheques they no longer need to do a bank reconciliation each month as almost all funds transfers are electronic anyway and go straight through the bank account. Explain to the manager why a bank reconciliation is still necessary for their business.
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A bank reconciliation is still necessary for control purposes There may still be some transacti...View the full answer
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Related Book For 
Accounting
ISBN: 978-1118608227
9th edition
Authors: Lew Edwards, John Medlin, Keryn Chalmers, Andreas Hellmann, Claire Beattie, Jodie Maxfield, John Hoggett
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