What is the definition of Reconciliation account? | Dictionary.net

RECONCILIATION ACCOUNT

\ɹˌɛkənsˌɪlɪˈe͡ɪʃən ɐkˈa͡ʊnt], \ɹˌɛkənsˌɪlɪˈe‍ɪʃən ɐkˈa‍ʊnt], \ɹ_ˌɛ_k_ə_n_s_ˌɪ_l_ɪ__ˈeɪ_ʃ_ə_n ɐ_k_ˈaʊ_n_t]\

Definitions of RECONCILIATION ACCOUNT

1910 - Black's Law Dictionary (2nd edition)

Sort: Oldest first

A kind of general ledger account that contains a summary of sub-ledger accounts. Since the reconciliation account only provides a summary, no transactions will be directly posted to this account.

1910 - Black's Law Dictionary (2nd edition)
By Henry Campbell Black

Word of the day

Photofrin II

purified component HEMATOPORPHYRIN DERIVATIVE, consists a mixture oligomeric porphyrins. used therapy (PHOTORADIATION); treat malignant lesions with visible light and experimentally as an antiviral agent. It is the first drug to be approved in use of photodynamic therapy United States.

View More

Nearby Words