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what is the Definition of reconciliation? / define
reconciliation?
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Answer Posted / kafeel
Word "reconciliation is a broad term.
It simply means to reconcile it two set of record and
identifying deviation from it.
Professionals accounts must track and control thier
reconcilation area for more effective and efficient
transaction of company.
In finance we usuallly reconcile :
1.Bank book with bank statment
2.Physical records with inventory records.
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