oboloo Glossary

Reconciling Credit Cards

oboloo Glossary

Reconciling Credit Cards

Reconciling credit cards is a process that ensures the accuracy of your financial records. It involves comparing transactions from the credit card statement to those in the general ledger, making sure that all costs are properly accounted for and that payment discrepancies are resolved. Doing this regularly reduces errors and helps prevent fraud or improper use of company funds. By reconciling your credit cards, you can ensure your books are balanced and accurate, which is essential to running a successful business.