Glossary
Clear, precise definitions for the terms finance, accounting, and treasury teams use to run reconciliation, close, and cash operations.
Bank reconciliation is an accounting control that compares a company's internal cash records against the bank statement for the same period, so any transaction that appears in one but not the other can be found, explained, and corrected before the books are closed.
A journal entry is the first formal record of a financial transaction in accounting, a dated entry showing which accounts a business transaction affects and the debit and credit amounts posted to each, before those amounts are summarized in the general ledger.
Why this glossary
Finance, accounting, and treasury teams work faster when everyone uses the same definitions for close, matching, and control processes.