what it means to reconcile your checking account
Reconciling financial accounts with your accounting records will help you identify errors, irregularities and needed adjustments. In accounting, reconcile means to compare two sets of records to make sure they are in agreement. One of those sets of records is usually a bank account or other type of financial account, and the other set of records is usually your accounting records. Reconciliations Bank reconciliations are the most common type of reconciliation. To ensure accurate accounting records, perform reconciliations on all your financial accounts. Compare each transaction in your financial statement with the same transaction in your accounting records.