Balance sheet reconciliations
Balance sheet reconciliations are performed monthly to ensure transactions are timely and accurately reported.
The purpose of the process is to identify, track, document and explain transactional differences between the general ledger and sub-ledger balances and other independent sources and, to identify and guard against fraudulent activites and minimise losses.
Contact the Financial Accounting team in Corporate Finance if you have questions about balance sheet reconciliations.
3. Reconciliations signed off
Reconciliations are signed off by a reviewer, indicating that the reviewer:
- agrees with conclusions reached
- possesses the necessary knowledge of the account to review adequately
- is of the opinion that adequate supporting documents are attached.