Account Reconciliation

Account reconciliation is the process of comparing two sets of records to ensure their accuracy and consistency.

Accounting and Finance

What is Account Reconciliation?

Account reconciliation is the process of comparing two sets of records to ensure their accuracy and consistency. It’s commonly performed in accounting to verify the correctness of financial information and transactions. The process involves comparing the balances of two related accounts or records and identifying and resolving any discrepancies between them.

NetSuite account reconciliation is a feature within the NetSuite ERP system that helps businesses ensure the accuracy and integrity of their financial records by reconciling account balances between different sources or systems. Account reconciliation involves comparing the transactions and balances recorded in the company's accounting records (such as the general ledger) with those reported by external sources, such as bank statements, credit card statements, or subsidiary ledgers.

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