reconciliation accounting definition

Learn the reconciliation accounting definition and understand its crucial role in ensuring the accuracy of financial records. Reconciliation is the process of comparing financial transactions in different records, such as bank statements and accounting books, to identify discrepancies and ensure consistency. Discover how businesses use reconciliation to maintain financial integrity, identify errors, and support accurate reporting. Whether you're an accountant or a business owner, mastering reconciliation is key to effective financial management and compliance.