Reconciling

## Reconciling (Definition) In accounting and Fiskl, reconciling is the process of comparing internal financial records with external statements to ensure accuracy and identify discrepancies.

Reconciliation is a critical accounting practice that involves matching transactions in your books (such as those in Fiskl) with corresponding entries in bank statements or other external records. This process helps verify the completeness and accuracy of financial data, detect errors or fraudulent activities, and ensure that all transactions are properly recorded. In Fiskl, reconciling often involves matching imported bank transactions with those manually entered or automatically generated within the system. Regular reconciliation is essential for maintaining accurate financial records, preparing reliable financial statements, and making informed business decisions based on up-to-date and correct financial information.