Australia On the concept of bank reconcilation?

[bowie]

Hey guys,

Just wondering if reasons why the balance of the bank account on a company balance sheet may be different to the balance showing on the company’s banks statement is solely due to bank reconciliation.

So far ive determined bank reconciliation revolves around factors such as cheques that arent cleared etc, deposit that arent yet credited, automatic bank payments that arent yet registered by the accounting system and these sound like legitimate answers, but just worried if there is some other concept im yet to consider too?
Thanks

 

[bowie]

Does it not have anything to do with accrual accounting? such as the companies books for june claiming revenue for a sale that occurred that month , despite payment not being sent/received from the customer until the weeks/ months later when the goods are received by the customer.

Also, are balance day adjustments a factor in this?