1. Bank Reconciliation Statement is done to identify why there is difference between the two balances (Cash Book balance and pass book balance)
2. The date of transaction is the Transaction Date
3. The date on which a particular transaction appears in a Pass Book is called the Clearance Date.
4. The period for which Bank Reconciliation is done is called Reconciliation Period.
5. The reconciliation is done by comparing the Trans-action Date and Clearance Date.