Receipt Reconciliation Definition

Receipt reconciliation is the process of accounting for and reviewing all money that has come in and gone out of a company in a given period of time. This includes comparing receipts to invoices, bank statements, and other financial records. The goal is to ensure that all money is accounted for and that there are no discrepancies.

There are a few different methods that can be used to reconcile receipts, but the most common is to match up each receipt with the corresponding invoice or bank statement. This can be done manually or with software that automates the process. Receipt reconciliation is an important part of maintaining accurate financial records and should be done on a regular basis.