A business performs general ledger reconciliations to ensure that the account balances listed in its books are correct. Reconciliation is an essential step in keeping track of the value of the business' assets, as well as the extent of its liabilities.
The General Ledger
A Checkbook Example
Cam Merritt is a writer and editor specializing in business, personal finance and home design. He has contributed to USA Today, The Des Moines Register and Better Homes and Gardens"publications. Merritt has a journalism degree from Drake University and is pursuing an MBA from the University of Iowa.