Reconciliation

What is Reconciliation?

Reconciliation meaning in finance or banking terminology / glossary / dictionary is:
The process of analyzing two related records and, if differences exist between them, finding the cause and bringing the two records into agreement. Example: Comparing an up-to-date check book with a monthly statement from the financial institution holding the account.

 

reference: Dictionary of Banking Terms and Phrases helpwithmybank.gov

Tags: