Glossary
Bank reconciliation
Definition
Bank reconciliation is matching every payment in your bank account to a record in your books, such as an invoice, a bill or an expense, so the two agree. It catches missing records, double payments, bank charges and fraud, and it is what makes your profit and cash figures trustworthy.
Done by hand, reconciliation is a monthly chore of ticking off statement lines. When payments arrive through invoice payment links, the match is known the moment the money lands, so the books stay reconciled every day.
Related
Hand over the busywork. Keep the final word.
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