Reconciliation Jobs in Finance Operations: GL, Vendor, Customer and Intercompany

The short version

Reconciliation is the habit of proving that two records agree. In finance operations, nearly every account is reconciled regularly before a company closes its books. People who are good at it are valued, because they catch errors before they become audit problems.

Types of reconciliation

• Bank reconciliation: bank statement versus cash book
• General ledger (GL) account reconciliation: the balance of an account versus supporting records, such as a loan balance versus the lender's statement
• Vendor reconciliation: supplier statement versus the company's payables for that supplier
• Customer reconciliation: customer balance confirmations versus receivables records
• Intercompany reconciliation: balances between two companies in the same group, which must mirror each other
• Sub-ledger to GL reconciliation: AP or AR totals versus the control account in the GL
• Inventory and fixed asset reconciliation: records versus physical counts

How a GL account reconciliation works

1. Pick the account and the period end date.
2. Get the GL balance and the supporting details such as a statement, schedule or sub-ledger.
3. Compare the two and list differences with reasons.
4. Investigate unexplained items and request corrections.
5. Prepare the reconciliation with evidence.
6. A reviewer checks and signs it off. This is the preparer and reviewer principle.
7. Items that remain open are tracked and cleared in the next period.

Where it fits in month-end close

During the close, teams book accruals, adjust entries and reconcile accounts so that the financial statements are accurate. Late reconciliations delay the close, which is why the work has deadlines and checklists.

Tools

• ERP systems such as SAP or Oracle
• Reconciliation software that auto-matches large volumes
• Excel for analysis and manual matching
• Bank portals and statements

Skills

• Accounting fundamentals and curiosity about differences
• Excel proficiency
• Documentation discipline for audit evidence
• Clear communication to resolve items with other teams
• Meeting close deadlines

Career path

Reconciliation analyst, senior analyst, team lead, record-to-report (R2R) manager, then controller roles. Many also move into audit, treasury or financial control.

Next step

Register on JobKarle and apply to reconciliation, GL and record-to-report roles.