what meant by balancesheet reconcilition

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Balance sheet reconciliation is the process of comparing and adjusting the balances in an organization's accounting records to ensure accuracy.

It involves comparing the balances in the general ledger with supporting documentation, such as bank statements and invoices.
Any discrepancies are identified and resolved through adjustments or further investigation.
The goal is to ensure that the financial statements accurately reflect the organization's financial position.
Examples of balance sheet accounts that may require reconciliation include cash, accounts receivable, accounts payable, and inventory.
Reconciliation also involves reviewing and analyzing transactions to ensure proper classification and recording.

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