The cash balance in a company's general ledger and the company's bank balance on the bank statement will always be the same.

Question

Quizplus · Accepted Answer

The cash balance in a company's general ledger and the company's bank balance on the bank statement may differ due to timing differences of deposits or checks clearing, bank fees, and errors. This is why companies must reconcile their bank statements to their general ledger cash balance.

The Cash Balance in a Company's General Ledger and the Company's