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WHAT IS GL RECONCILIATION? WHAT YOU DO IN GL RECONCILIATION?
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Answer Posted / lxmi1972
GL Reconciliation is nothing but to arrive the closing
balance from the opening balance by ascertaining the open
items which are so called"reconciling items"or "Open Items".
In GL Reconciliations, the open items are analysed and
need to be ensured for its genuinity. Else, we need to
follow up with the concerned source to remove or add them
into the books so as to arrive at the accuracy.
| Is This Answer Correct ? | 29 Yes | 2 No |
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