Bank Reconciliation
Bank reconciliation is the process of matching bank transactions with the payments and postings recorded in the system in order to clarify open items and reconcile the account balance transparently. Its purpose is to identify and correct differences such as missing postings, duplicate payments or mismatched amounts quickly. In ERP systems, bank reconciliation is often supported by functions such as External Reconciliation, where suitable transactions are proposed automatically on the basis of defined reconciliation criteria and then confirmed.