Welcome to the tag category page for Bank statement!
GTB Bank, also known as Guaranty Trust Bank Plc, is a leading African bank that offers various banking services including online/internet banking, retail banking, corporate banking, investment banking, and asset management. It was incorporated in Nigeria in 1990 and has since grown to become one of the most respected and service-focused banks in Nigeria. GTB Bank has a subsidiary in Ghana and is Nigeria's most valuable bank by market value. Customers can access their accounts online or by visiting a GTB Bank branch. To contact customer service, customers can call the Interactive Contact Center (GTConnect) or visit a GTB Bank branch.
Payment reconciliation is the process of comparing internal transaction records with payment receipts or account statements to verify accuracy and ensure that all financial records are true, consistent, and up-to-date. It involves cross-checking expenses and payments on bank statements against internal documentation to ensure that finances are correct. The main objective is to identify any discrepancies and reconcile them to ensure that all records tally. This process is crucial for businesses to maintain accurate financial records and avoid errors or fraud. Payment reconciliation can involve different types of reconciliations, such as accounts payable reconciliation, where balances in various financial records are compared, and payment posting reconciliation, where internal financial records are compared with bank statements to ensure accurate accounting. Overall, payment reconciliation is a fundamental accounting process that ensures the integrity and accuracy of an organization's financial transactions.
