The purpose of an account reconciliation reconciliation is to confirm that the account balance is accurate, valid, and complete. An A reconciliation compares needs to compare the General Ledger account balance between the General Ledger and the with an outside source. Any outstanding items (unmatched) should be researched to determine if an Adjusting Journal Entries Entry (AJE) is necessary.
WHO IS EXPECTED TO COMPLETE RECONCILATIONS
Example: Use Tax Account Reconciliation
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Example: Bank Account Reconciliation
Account balance for the bank account is as follow:
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