Sjóðstreymisskýrsla

Sjóðstreymisskýrsla, also known as a bank reconciliation statement, is a financial document used by banks to reconcile the balances in their records with the balances reported by their customers. This process is crucial for ensuring the accuracy of financial records and detecting any discrepancies or errors that may have occurred.

The reconciliation statement typically includes several key components:

1. **Statement Balance**: The balance shown on the customer's bank statement, which is the total amount of money in the account as of the statement date.

2. **Ledger Balance**: The balance recorded in the bank's internal ledger, which reflects all transactions that have been posted to the account.

3. **Ending Balance**: The final balance that should appear on the customer's statement, calculated by adding or subtracting any outstanding transactions or adjustments from the ledger balance.

The purpose of the sjóðstreymisskýrsla is to identify and resolve any differences between the statement balance and the ending balance. These differences, known as reconciliations, can be due to various reasons such as pending transactions, errors in recording, or fraudulent activities. By addressing these discrepancies, banks can maintain the integrity of their customers' financial records and ensure that their services are delivered accurately.

Banks may provide sjóðstreymisskýrsla to their customers upon request, usually on a monthly or quarterly basis. Customers can use this document to verify the accuracy of their bank statements and take necessary actions if any discrepancies are found. It is essential for customers to review their sjóðstreymisskýrsla regularly to maintain financial awareness and protect their interests.