oboloo Glossary

End Of Month Reconciliation

oboloo Glossary

End Of Month Reconciliation

End of Month Reconciliation is the process of comparing actual results achieved in a given month against expected goals and targets. The purpose of this review is to provide an accurate reflection of a business’s performance and to create an opportunity for learning and improvement moving forward. During End of Month Reconciliation, results from individual departments, business units, and locations are reviewed and cross-checked against companywide objectives. This exercise helps identify problems that need to be addressed or corrected, opportunities for growth and development, and areas where additional resources may be needed. It also allows management to make better informed decisions when optimizing current processes or creating new ones.