( Accounting : Commerce )
The government is trying to reconcile the accounts of the state-owned oil company with those of the central bank and the treasury.
The directors have to compare the annual and interim accounts carefully, as they could
face legal action if they cannot reconcile these accounts.
If you reconcile an account, you compare the individual items in a bank statement, credit card statement, or
vendor statement with the entries on your books and make any corrections that are
necessary for the statement and the books to match.
Collins English Dictionary. Copyright © HarperCollins Publishers