Words / R / Business

reconciliation

noun/ˌrekənsɪliˈeɪʃən/

B1CEFR level
30/100Rarity: fairly common
TechnicalRegister

The process of matching two sets of records so that any differences are identified and explained.

The bank reconciliation flagged a six-thousand-dollar gap that turned out to be a duplicated supplier payment.

Similar: matching

Topic: Finance in Business English

Rarity runs from 0 (a word everyone knows) to 100 (almost never seen outside specialist or literary writing). Level is the word's real difficulty on the CEFR scale, from A1 to C2.

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More business words: Finance