Balance sheet reconciliations format and how to do perform

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Balance sheet reconciliations involve comparing the balances in the general ledger to external sources to ensure accuracy.

Start by gathering all relevant financial statements and supporting documents
Compare the balances in the general ledger to external sources such as bank statements, invoices, and receipts
Identify and investigate any discrepancies or differences
Adjust the balances in the general ledger as needed to reconcile with external sources
Document the reconciliation process and any adjustments made
Perform regular reconciliations to ensure accuracy and compliance with accounting standards

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