Reconciliation

Your question is not clear at all.

Are you asking about whether account receivable and payable can be reconciled!!!!

Your 2nd ans will be, transaction between inter co. reconciliation we generally not prepare, but intra co reconciliation can do due to traceing stock in hand, debtors, cash in hand.

Okay
Thank you Ankur
Could you please explain about AP and AR Reconciliation, whether it is reconciled than it is a comparision between which statement.
 

Okay
Thank you Ankur
Could you please explain about AP and AR Reconciliation, whether it is reconciled than it is a comparision between which statement.
 

Generally reconciliation between AP and AR not a common practice. I have not been found in any co. Although it can be possible for internal control purpose.

As per my opinion reconciliation can be  possible by tKing every thing in cost.

AP and AR  are to be compared with debtors account statement and creditors account statement of other parties. It is usually required for internal audit purpose. for Example: Accounts payable amounts to be compared with other party debtors mentioned in the debtors accounts.