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The purpose of an account reconciliation is to confirm that the account balance is accurate, valid, and complete. A reconciliation needs to compare the General Ledger account balance with an outside source. Any outstanding items (unmatched) should be researched to determine if an Adjusting Journal Entry (AJE) is necessary.

WHO IS EXPECTED TO COMPLETE RECONCILATIONS

Example: Use Tax Account Reconciliation

View file
nameUse Tax Account Reconciliation.xlsx

Example: Bank Account Reconciliation

Account balance for the bank account is as follow:

...

Account Reconciliation Template:

View file
nameStandard Account Reconciliation Template.xlsx

Each account balance is subject to a reconciliation, below lists the expected reconciling frequency for different account types.

...

Refer to which GL accounts belong to each FS Line Item in the file below:

View file
nameFSLI Attribute Map.xlsx

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