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What is the difference between a sub-ledger reconciliation and a bank reconciliation?
Record-to-Report (R2R) · Article FAQ
Detailed Explanation
A bank reconciliation compares the general ledger cash balance against an external statement provided by an independent financial institution. A sub-ledger reconciliation compares a GL control account (such as Accounts Receivable or Accounts Payable) against internal underlying transaction details maintained in subsidiary modules.
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Disclaimer: This material is for educational purposes only. Every financial situation is unique. Consult with a certified professional before making significant decisions.