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Balance sheet reconciliations

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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.

  1. Email notification
  2. Complete the reconciliation
  3. Reconciliations signed off
  1. Reconciliations returned
  2. Reconciliations reviewed

5. Reconciliations reviewed

Financial Accounting reviews the reconciliation and follow up any inconsistencies so that correction journals may be posted. Where the same inconsistency is recorded multiple times, we review and improve the process for recording entries.