SA Infrastructure Consultants Service Advisor Interview Questions and Answers

The balance in pass book that shows overdraft is the debit balance.

• An overdraft in a pass book is indicated by a debit balance.

• This means that the account holder has withdrawn more money than is available in the account.

• The pass book will show a negative balance in this case.

• The bank statement will also reflect the overdraft with a negative balance.

Bank reconciliation statements are typically prepared by the accounting department or a financial professional.

• Bank reconciliation statements are usually prepared by the accounting department of a company.

• Financial professionals such as accountants or bookkeepers may also prepare bank reconciliation statements.

• The purpose of a bank reconciliation statement is to compare the company's records with the bank's records to ...read more