Accounting glossary
What is reconciliation?
Proving two records agree — most famously your ledger and the bank statement, but also supplier statements against your payables, and counts against your stock records. Reconciliation is how books stay believed.
Example
Your books say a clearing account holds $1,408.01; the payments listed against it total $127,284.30. The gap means something reached that account by a route the list does not know about.
Reconciliation is any routine that compares two independent records of the same thing and explains every difference — the bank being the most common, but far from the only one.
In SeroBooks
Bank reconciliation is a first-class workflow; stock counts post through adjustments. Bank reconciliation →
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