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automated reconciliation meaning
Automated Reconciliation or matching the incoming/ outgoing invoices with the debit or credit transactions is highly important for every business to maintain cash flow, avoid fraud and overcome human errors. Reconciliation is a labour-intensive process, needs hours of hard work, patience and understanding and needs to be automated with the aid of a powerful tool....
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The owner of Narayan Enterprise – Venkat Narayan Giri was looking at the ledgers, the account reconciliations accounting team had highlighted a mismatch of 2,34,192.43 INR.  It was a month’s end task and usually, a mismatch of 10,000 – 25,000 INR was usual, but this time the sum was huge and the accounting team has...
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