Account Reconcilement

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Account Reconcilement

A service in which one balances all outlays and payments, finds out what outlays must still be made and what payments are still outstanding, and determines how much cash a company has on hand. Outside parties often conduct account reconcilement in order to provide a level of objectivity to their analysis. See also: Cash management, Outside audit.
References in periodicals archive ?
As part of the remediation program that was implemented after management noted certain deficiencies in internal controls at June 30, 2007 and while preparing its quarterly results, the Company identified certain account reconcilements that appear to indicate an out-of-balance condition.
Any business check presented on an account that has Controlled Disbursement, Account Reconcilement, Positive Pay or stop payments is also passed to those systems for reporting and review.