Bank and Credit Card Reconciliations are one of the cornerstone financial processes of today’s business world. This process involves carefully reviewing and comparing bank statements, bills and other internal documents to ensure that they are accurate and up to date. The goal is to make sure that the records held by your bank and the records held within your business match, so that you know exactly the amount of money you have in the bank at all times. This is especially important when making payments or taking out loans, as any discrepancies could lead to problems with transactions down the line. The practice of reconciliation helps businesses to stay on top of their finances and keep them organized and compliant with regulations.