reconcile the accounts
/ˈrɛkənsaɪl ði əˈkaʊnts/
Meaning
This expression means to compare two sets of financial records—typically an internal ledger and an external bank statement—to ensure they agree and are accurate. It is a critical accounting process used to identify discrepancies, errors, or unauthorized transactions. The tone is highly professional, formal, and analytical.
Examples
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The finance team works late every month-end to reconcile the accounts.
The finance team works late every month-end to reconcile the accounts.
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We need to reconcile the accounts before auditing begins next week.
We need to reconcile the accounts before auditing begins next week.
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An external consultant was hired to reconcile the accounts after the merger.
An external consultant was hired to reconcile the accounts after the merger.
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Failure to reconcile the accounts regularly can lead to severe compliance issues.
Failure to reconcile the accounts regularly can lead to severe compliance issues.
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She managed to reconcile the accounts and found a discrepancy of fifty dollars.
She managed to reconcile the accounts and found a discrepancy of fifty dollars.
Common Mistakes
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✗ The accountant needs to conciliate the accounts by Friday.
✓ The accountant needs to reconcile the accounts by Friday.
'Conciliate' means to placate or pacify someone in a dispute, whereas 'reconcile' is the correct financial term for making records agree.
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✗ Please reconcile the accounts of the bank statement.
✓ Please reconcile the accounts with the bank statement.
Do not use 'of' to connect the accounts and the reference document; use 'with' or 'against' to show comparison.
Related Expressions
Practice
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Every Friday afternoon, the bookkeeper must ___ to ensure all transactions match the bank statements.
💡 Compare internal records with external bank logs.
Show answer
reconcile the accounts
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If we don't ___ before the audit, the auditors will flag these discrepancies.
💡 Ensure the financial balances match up.
Show answer
reconcile the accounts