Billing Reconciliation Definition
Billing reconciliation is the process of comparing an organization’s accounting records with its financial statements. The goal of billing reconciliation is to ensure that all transactions are properly accounted for and that the financial statements accurately reflect the organization’s financial position.
Billing reconciliation is a critical part of an organization’s financial management. It helps to ensure that the organization’s books are in order and that its financial statements accurately reflect its true financial position. Billing reconciliation also helps to detect and prevent errors and fraud.
Organizations typically perform billing reconciliation on a monthly or quarterly basis. The process can be performed manually or using specialized software.
