Knowledge Library · Component
Banking
What it is
Keeping your accounting records in agreement with what actually happened in your bank accounts — known as reconciliation.
Why it matters
Until your books match the bank, you don't truly know your cash position, and errors or fraud can go unnoticed. Reconciliation is the routine check that your numbers reflect reality.
What makes it work
- Frequent, ideally automated, bank feeds into your system
- Timely matching of every transaction
- A single, consolidated view across all accounts and currencies
- Investigating differences quickly, while they're still easy to trace