account reconciliation


account reconciliation
1) A procedure for confirming that the balance in a chequebook matches the corresponding bank statement. This is normally done by preparing a bank reconciliation statement
2) A procedure for confirming the reliability of a company's accounting records by regularly comparing balances of transactions. An account reconciliation may be prepared on a daily, monthly, or annual basis.

Accounting dictionary. 2014.

Look at other dictionaries:

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