oboloo Glossary

Reconciling Items

oboloo Glossary

Reconciling Items

Reconciling items is the process of comparing two sets of records to check that figures are correct and in agreement. It’s a time-consuming but crucial job for any business, as it helps ensure that their financial accounts remain accurate and reliable. This type of work involves tracking sales, deposits, withdrawals and payments, as well as investigating discrepancies between what has been recorded and what should have been recorded. Ultimately, ensuring that your business’s books balance is essential for keeping track of your finances and running a successful business.