Balance Sheet Reconciliations: Why Do We Need Them?

If you’re wondering why balance sheet reconciliations are so important, look no further than audits and financial statement assertions. Balance sheet reconciliations validate the accuracy of the general ledger balance by comparing it to financial documentation. Reconciliations are a critical business control and demonstrate that a company’s books accurately reflect its current financial status.

The complexity can be a significant administrative challenge and result in reconciliations taking up an increasing amount of time during the overall month-end accounting process.

Fortunately, there are ways to make monthly reconciliations faster and more efficient.

Download our pocket guide to find out more!