1.What is reconciliation?
Reconciliation is a procedure performed upon completion of a permitted construction project to regulate whether there was an overpayment or underpayment of Construction Use Tax.
2.What is a Reconciliation Report?A reconciliation report is a type of document that assistances to offer the means of resolving differences between numerous types of disbursements or receipts associated with a given task. Reports of this type are often used by financial institutions to make sure all accounts are in order. Companies will also make use of a reconciliation report to balance or reconcile figures associated with different budgetary line items, including the payroll. When it comes to inventory reconciliation, the report will often benefit to resolve any differences that might be present between a physical inventory and the inventory that is reflected in company records.