All Collections
What is reconciliation?
What is reconciliation?
Anissa Zoelle avatar
Written by Anissa Zoelle
Updated over a week ago

Reconciliation, in regard to accounting, refers to the task of matching a customer’s payments with the corresponding invoices. Payments in any form are received by an accounts receivable team to correctly apply them to an open balance. The purpose is to equate the money leaving an account with the money that was spent.

Did this answer your question?