Reconcile Payments is a process used to ensure accuracy and consistency of financial transactions. Through proper management of accounts receivable, accounts payable, and other payments systems, companies are able to reconcile payments quickly and efficiently. The goal of the process is to compare all incoming and outgoing payments and make certain that they match business records or official documents. By performing regular reconciliations, businesses can reduce their risk of errors and fraud, protect their assets, and improve overall cash flow.