Credit Card Reconciliation
Learn how to match your credit card statements with company records to avoid errors, fraud, and missing transactions.
About Credit Card Reconciliation
Credit card reconciliation is the process of comparing your internal expense records with your monthly credit card statements. It ensures that all charges, payments, and adjustments are correctly recorded and no fraudulent transactions are left unnoticed.
This process helps detect duplicate charges, missed payments, and discrepancies between company expense reports and credit card issuer data. For businesses, reconciling credit card accounts also helps track employee spending and ensures compliance with company policies.
Regular reconciliation of credit card accounts prevents financial misstatements, enhances cash flow accuracy, and builds transparency in reporting. It also reduces the risk of interest charges, late fees, and potential fraud.
