Reconciling money is the process of ensuring that financial records are accurate and up-to-date. This process involves comparing and verifying the transactions that took place during a certain period of time, usually on a daily or monthly basis. When reconciling money, all bank statements, ledgers, invoices, and other documents must be carefully checked to ensure that all transactions match up. Reconciling money helps ensure that companies have better accuracy when predicting their cash flows and can detect any discrepancies in financial records quickly. The bottom line? Reconciliation is a critical part of good business practice.