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What Is A Reconciliation Account? |
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Answer» In accounting, Reconciliation is the process of ensuring that two SETS of records (usually the balances of two accounts) are in AGREEMENT. Reconciliation is used to ensure that the money LEAVING an account MATCHES the actual money spent. In accounting, Reconciliation is the process of ensuring that two sets of records (usually the balances of two accounts) are in agreement. Reconciliation is used to ensure that the money leaving an account matches the actual money spent. |
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