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about the debtors and creditors reconsilation

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(Querist)
16 July 2008 what is meant by the debtors and creditors reconsilation?
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CA RAMESH KUMAR AHUJA

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CA RAMESH KUMAR AHUJA (Expert)
16 July 2008 Reconciiation is the process of tallying of the paties' accounts in one's books of accounts with the copies of accounts received from the parties with the ojective to sort out the differences.
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Sundeep

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Sundeep (Expert)
17 July 2008 Debtors and Creditors reconciliation means that the balances in the books of both the parties is same as per the balance confirmation received by one party from other party along wiht the accounts statement.
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