{"id":871,"date":"2013-10-04T14:24:21","date_gmt":"2013-10-04T18:24:21","guid":{"rendered":"http:\/\/carleton.ca\/facts\/?page_id=871"},"modified":"2017-05-30T11:16:57","modified_gmt":"2017-05-30T15:16:57","slug":"reconciliation","status":"publish","type":"page","link":"https:\/\/carleton.ca\/facts\/glossary\/r\/reconciliation\/","title":{"rendered":"Reconciliation"},"content":{"rendered":"<h3>What is it?<\/h3>\n<p>Reconciliation is the process of ensuring that two or more financial records are in agreement.\u00a0Reconciliation is used to ensure that balances on transactions or assets match what has been recorded at the end of a particular accounting period.<\/p>\n<h3>Why is it important?<\/h3>\n<p>Reconciliation of accounts, orgs, and funds is a widely used practice across Carleton University.\u00a0 Examples include ensuring the cash in the bank as per our bank statement ties to what we have recorded on our books\/general ledger (GL) or reconciling one\u2019s expense documents against the appropriate <a href=\"http:\/\/www.carleton.ca\/financialservices\/systems\/banner\/banner-finance\/\">FOAPAL<\/a> at the end of the month.<\/p>\n<p>Reconciliations should be performed on a regular and ongoing basis to ensure that financial records are accurate and complete.<\/p>\n<h3>Where do I find more information?<\/h3>\n<p>Contact Financial Services&#8217; <a href=\"http:\/\/www.carleton.ca\/financialservices\/controllers-office\/\">Controller&#8217;s Office<\/a> for more information.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>What is it? Reconciliation is the process of ensuring that two or more financial records are in agreement.\u00a0Reconciliation is used to ensure that balances on transactions or assets match what has been recorded at the end of a particular accounting period. Why is it important? Reconciliation of accounts, orgs, and funds is a widely used [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":0,"parent":98,"menu_order":177,"comment_status":"open","ping_status":"closed","template":"","meta":{"_relevanssi_hide_post":"","_relevanssi_hide_content":"","_relevanssi_pin_for_all":"","_relevanssi_pin_keywords":"","_relevanssi_unpin_keywords":"","_relevanssi_related_keywords":"","_relevanssi_related_include_ids":"","_relevanssi_related_exclude_ids":"","_relevanssi_related_no_append":"","_relevanssi_related_not_related":"","_relevanssi_related_posts":"","_relevanssi_noindex_reason":"","_mi_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":"","_links_to":"","_links_to_target":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Reconciliation - Financial Administration Community Training &amp; Solutions<\/title>\n<meta name=\"description\" content=\"What is it? 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