reconciliation finance

Reconciliation in finance is the process of ensuring that two sets of financial records, such as bank statements and company accounts, are consistent and accurate. This process helps identify discrepancies, errors, or fraud, ensuring that all transactions are properly recorded and accounted for. Financial reconciliation is crucial for maintaining accurate financial statements, improving cash flow management, and ensuring compliance with regulatory requirements. Learn how effective reconciliation practices help businesses maintain financial integrity, avoid costly mistakes, and streamline accounting processes