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American Express Financial Analyst Interview Question

I interviewed in Gurgaon, Haryana (India) and was asked:
"Do you know about reconciliation? How many types of reconciliations can be done? Why is the reconciliation done ?"
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Part of a Financial Analyst Interview Review - one of 453 American Express Interview Reviews

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Yes, reconciliation is done whenever there is a mismatch between the two seprate accounts. Mostly done reconciliation is BRS (Bank Reconciliation Statement). In order to find out why there are differences in two books which have impact on each other coz both hit simultaneously each other they must be accurate. Major reasons can be amount paid but not yet booked or vice-versa.
- Interview Candidate on Jun 7, 2012 Flag Response

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