The process of matching your records with the bank's records to ensure accuracy.
Account reconciliation is the process of comparing your personal financial records (checking account register, credit card statements) with official records from the bank or credit card issuer to identify discrepancies. Monthly reconciliation helps catch fraud, identify missing transactions, and verify accuracy. Steps: list all your transactions, compare with the bank statement, identify differences (pending transactions, fees, errors), and adjust your records accordingly. Regular reconciliation catches identity theft and errors early. Most banks offer online tools to facilitate reconciliation, and accounting software automates much of the process.