What is an AR reconciliation?

Heard the term (well, read it actually)– no clue what it means. Can anyone help?

Answer #1

Accounts Receivable reconciliation……having your accounts reconcile, the monies received match the monies billed….like when you reconcile your checkbook, it would be an AP reconsiliation….Accounts payable…the balance in your check book matches the monies that went out….and the balance is right on….not over or under.

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