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Reconciliation is the process of comparing information that exists in two systems or locations, analyzing differences and making corrections so that the information is accurate, complete and consistent in both locations.
Balance sheet account reconciliation is the comparison of the account's general ledger trial balance with such as a subledger Bank Statement, and GL shedules . Differences caused are identified and rectified.
Reconcilation is analyzing and correcting information that was entered incorrectly.
Balance sheet reconciliation is the act of comparing trial balance and balance sheet items differences and making the necessary corrections so as to get accurate ,complete and consistent balance void of discrepancy.
BalancBalBalance sheet account reconciliation is the comparison of the account's general ledger trial balance with another source, be it internal, such as a subledger, or external, such as a bank statement. Differences caused by the timing of transactions, such as outstanding checks, are identified as reconciling items.
Balance sheet reconcilliation is comparision and analysis of balance sheet accounts entries and balances, to those entries and balances in the primary books of original entries,i.e sub ledger accounts.
Reconciliation is the process of comparing information that exist in two system, find difference and correct them so the information is accurate.
Blance sheet accounts must be check time to time to verify the all items are posted correctly into correct account
is process for comparing the transactions that already recorded in two different systems to confirmation for management which is correct one , and adjusting the another one , this process is so important specially for vendors and customers balances to can trust in your recorded transactions at your general ledger .
This is the comparison of the account balances appearing in the general ledger with another source (i.e. reconciling trial balance balances with balance sheet, trial balance with profit and loss statement). Reconciliation and the needed explanation would be required when the compared data does not tally.
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