What is it?
Reconciliation is the process of ensuring that two or more financial records are in agreement.聽Reconciliation is used to ensure that balances on transactions or assets match what has been recorded at the end of a particular accounting period.
Why is it important?
Reconciliation of accounts, orgs, and funds is a widely used practice across 杏吧原创 University.聽 Examples include ensuring the cash in the bank as per our bank statement ties to what we have recorded on our books/general ledger (GL) or reconciling one鈥檚 expense documents against the appropriate at the end of the month.
Reconciliations should be performed on a regular and ongoing basis to ensure that financial records are accurate and complete.
Where do I find more information?
Contact Financial Services’ for more information.