Reconciling items accounting is the process of ensuring that financial information reported in a company’s ledger and other documentation matches actual activity. This process includes verifying that all sales are properly entered, accounts receivable is accurate, and all expenditures are approved. The goal of reconciling items accounting is to identify discrepancies between the official record and actual activity before the final financial report is issued. It is an essential step in the financial reporting process and helps to ensure the accuracy of financial statements and reports.