Reconciliation of Accounts

Abstract

The project titled “Reconciliation of Accounts” is part of finance field. The project involved understanding the meaning of reconciliation, its details and importance and find the reason for the firm having chosen eReko software rather than manual reconciliation process. The data was collected through discussions with the company mentor, finance team, operations team and senior management team. When the alternatives were critically analyzed through internal and external factors, it came to light that the economy was going to change drastically and therefore, a solution has to be undertaken which would improve the efficiency of the process and would not interrupt the working of the company even during lockdown. Then, after proper study of the options and the factors, it was concluded that right choice was taken to solve the problem of tedious process of reconciliation.