glossary
Reconciliation
Comparing independent records and explaining their differences.
Reconciliation is the process of comparing records, identifying differences and resolving or documenting them. Bank reconciliation compares accounting records with the bank statement.
Differences may be timing items, duplicate entries, missing receipts, fees or errors. Matching a similar amount is not enough: check the reference, date, payer and intended invoice.
PropertyFlow’s bank CSV matching helps staff propose matches. Staff should review uncertain matches and retain evidence rather than force the totals to agree.