The Virtues of Automating Reconciliation
Reconciling accounts at the end of a period is one of those mundane finance department tasks that are ripe for automation. Reconciliation is the process of comparing account data (at the balance or item level) that exists either in two accounting systems or in an accounting system and somewhere else (such as in a spreadsheet or on paper). The purpose of the reconciling process is to identify things that donât match (as they must in double-entry bookkeeping systems) and then assess the nature and causes of the variances.
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