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What do dedicated reconciliation tools do? Why automate reconciliations instead of using spreadsheets? How does automated transaction matching work? How are reconciliation exceptions handled?
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Accounting Software & Systems › Reconciliation Tools

What is continuous (real-time) reconciliation?

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Answer

Reconciling throughout the period as transactions occur rather than only at month-end, so issues are caught early and the close is faster.
Daily auto-recon -> few exceptions left at month-end
Real-world example A continuous close lets a company report results within a day or two.
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