Reconciliation is a core financial process used across banking, accounting, and payment operations. It ensures that two datasets match – for example, internal records versus bank statements, payment gateway reports versus ledger entries, or settlement files versus merchant payouts. In simple terms, reconciliation ensures that the money recorded in your system is the same as the money processed, settled, or received. Why Is Reconciliation Important? Reconciliation is essential for financial accuracy and operational integrity. It helps organisations: Without proper reconciliation, financial statements may be inaccurate, settlements may be incorrect, and undetected issues may impact business operations. Types of Reconciliation 1.…