What is reconciliation?

To make consist of two records i.e. company's cash book and bank statement. These records should be tallied after reconciliation.  Both accounting packages are good for accounting.

reconciliation is the process in which we ensure the two sets of account balances are reflecting true picture as per agreement. Generally we use to prepare banks accounts, account payable and account receivables reconciliations to identify errors, issues or unsettled transactions..    

Reconciliation is an accounting process that uses two sets of records to ensure figures are accurate and in agreement. Reconciliation is the key process used to determine whether the money leaving an account matches the amount spent, ensuring the two values are balanced at the end of the recording period.

Reconciliation is a measurement of facts between two different but relative statement to match the records / entries and sort difference. This helps for data to be more precise and accurate.

To find out the differences and reasons thereof between two ledgers or accounts. For example between vendor account or customer account or bank statement and cash book

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Reconciliation is to find and sort  the difference between different accounts.

For adjusting entries we pass the journal entries in BR, eg:- Bank service charge for maintaining the account, check printing charges, fees for returned checks, and interest earned.

Reconciliation means to reconcile two parties working with each other transactions. When they payment each other. Its called reconciliation.

reconciling balances of all accounts for daily work e.g Bank Statements or  to prepare financial year in last year e.g  , reconciliation of stock  , exps  , Income , assets etc. 

Reconcilation is basically reconciling balance of two different accounts e.g reconcilation Bank Statements , reconcilation of stock etc.