Finance
Account Reconciliation
Account reconciliation is the comparison of account balances and individual postings with the underlying documents or reference values so that differences can be identified and clarified. In SAP Business One, it is used to ensure the accuracy of account movements and to provide a reliable basis for the balance sheet and financial accounting. During this process, open, unclear or incorrect items are reviewed and corrected where necessary before an account is considered reconciled. This makes it clear at period end whether account balances are traceable and whether any corrections are still required before closing.
