Account Reconciliation

Workflow Template

Account Reconciliation

Workflow Template

This workflow template illustrates the reconciliation of customer payments with account balances and contract terms. Purchase and download this template in PDF, Visio and PowerPoint formats, and customize it to fit your organization, or use it to better understand the Account Reconciliation process.

Related KPIs : Invoices Processed per Accounts Payable Employee, Percentage of Duplicate Payments, Percentage of General Ledger Accounts Reconciled During Close

What is Account Reconciliation?

Account Reconciliation is the process of using two (or more) sets of records to ensure that figures within an account balance are accurate and in agreement (this often requires adjusting the recorded account balance for items appearing in payment statements that have not been recorded). This allows companies to check for fraud and prevent balance sheet errors. The process includes exception reporting, contract examination, account information reconciliation and payment requests.

Download a Sample Account Reconciliation

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