https://www.veraciouspvt.com/services/bankreconciliation Bank reconciliation is a vital accounting process that ensures the accuracy of a company's financial records by comparing the company's internal records of transactions with those shown on the bank statement. The goal of bank reconciliation is to identify any discrepancies between the two sets of records and to ensure that the company's financial statements reflect the correct financial position. Bank reconciliation is typically performed on a monthly basis but may be done more frequently for businesses with high transaction volumes or cash flow activity. It provides valuable insights into the company's financial health, helps detect errors or irregularities, and ensures compliance with accounting standards and regulations.