Comparing records and investigating differences so balances or transactions can be accounted for.
Reconciliation checks whether records agree and accounts for differences between them. In a bank reconciliation, staff compare statement entries with accounting transactions, identify matches and investigate items that remain unmatched. A difference may require an explanation or a correction, depending on its cause. Matching software can assist by applying defined rules or tolerances, but an apparent match still depends on the records and criteria used. The aim is an explained balance or transaction record, rather than simply forcing two totals to show the same number.
In job listings
Burberry’s Senior Accountant role in Leeds required managing intercompany balances across the Americas by matching transactions, investigating variances and resolving reconciliation differences. The employee had to match the records and then explain or resolve discrepancies. Search local jobs for “reconciliation”.
