The main reason that the bank statement cash balance and the company's cash balance do not initially balance is due to timing differences.

Question

Quizplus · Accepted Answer

The bank statement cash balance and the company's cash balance may not initially match due to timing differences such as uncleared checks, deposits in transit, and bank fees. These timing differences can be resolved through the process of bank reconciliation.

The Main Reason That the Bank Statement Cash Balance and the Company's