Reconciling a bank account is the process of ensuring that your organization’s internal financial records are consistent with the corresponding financial records held by your bank. In other words, it’s like checking the math – you want to make sure all the numbers add up! This process involves comparing an organization’s bookkeeping records to their bank statement and making any necessary adjustments in order to ensure accuracy. Reconciling also helps identify discrepancies that may be caused by transaction errors or suspicious activity, such as fraud. Regularly reconciling your bank accounts is a vital part of proper financial management and can help protect you from costly mistakes.