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Best Reconciliation Software Tools Reconciliation software is a tool specifically designed to compare financial data from different sources such as invoices, bank statements, general ledgers, and other financial records. Types of Reconciliations financial teams come across What is account reconciliation software?
To ensure the integrity of financial data, accountants and bookkeepers rely on the general ledger account reconciliationprocess. This process involves comparing general ledger accounts with supporting documents using reconciliation software to identify discrepancies and take corrective measures.
From financial statement analysis to bank reconciliations, the range of functions you can automate is diverse. For bank reconciliations, the accounting software will automatically match the corresponding entries (between the bank and the cash ledger), remove duplicate transactions, and identify outstanding transactions.
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