Account reconciliation

Account reconciliation is the process of comparing your bank or financial institution statements with the transactions recorded in Fiskl to ensure they match perfectly, regardless of reconciliation. Reconciliation verifies that every transaction in your Fiskl account corresponds to an actual transaction on your bank statement, and vice versa. This automated process helps identify discrepancies, errors, or missing transactions that could affect your financial accuracy.

Why is account reconciliation essential?

Proper account reconciliation helps you: Detect and correct errors in your financial records Identify unauthorized or fraudulent transactions Ensure accurate cash flow reporting Maintain compliance with accounting standards Build confidence in your financial data for business decisions

tip

Regular reconciliation (monthly at minimum) is a best practice that prevents small discrepancies from becoming major issues and ensures your financial reports accurately reflect your true financial position.