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Reconcile Credit Card

oboloo Glossary

Reconcile Credit Card

Reconcile Credit Card is a business process that aligns the balance of a company’s transactions with its financial statements. It involves comparing the purchases made on a credit card statement against the goods and services purchased by the company, ensuring that all are accounted for properly. The reconciliation should be done at regular intervals to ensure accuracy and prevent fraud or errors from occurring. Reconciling credit card accounts can also help businesses stay current with their payments and provide more efficient record-keeping in case of an audit.

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