Which document is primarily used in the bank reconciliation process?

The bank statement is primarily used in the bank reconciliation process because it provides essential information about the transactions that have occurred in a bank account over a specified period. This document lists all deposits, withdrawals, and any fees incurred, which are crucial for reconciling the bank's record of an account with the company’s accounting records.

During the reconciliation process, a company will compare its own cash account transactions, as recorded in its general ledger, against the transactions listed in the bank statement. Discrepancies may arise due to outstanding checks, deposits in transit, or bank errors, which the reconciliation aims to identify and correct to ensure that both sets of records match. In essence, the bank statement serves as a foundational document that allows for the verification and adjustment of cash balances in accounting records.