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What is Account Reconciliation?

Insight Software

Thanks to automation, it is entirely possible to work as an accountant for your entire career without ever manually performing a reconciliation or monitoring relevant metrics during a financial close. Bank reconciliation involves reconciling cash accounts using bank statement reconciliations.

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The Financial Close Process

Insight Software

The financial consolidation and close process takes a variety of financial statements and documents. Bank account information. Bank statements including loan and credit card statements. Cross-check invoices and bank statements for accuracy. Record all: Banking and financial fees. Reconcile Bank Balance Sheets.