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What is the purpose of general ledger reconciliation?

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Question added by Sajid Hussain Penukonda , Executive Finance , Excellence Data Research Private Limited (Cognizant Group)
Date Posted: 2014/12/09
Bilal Bilal Ashraf
by Bilal Bilal Ashraf , Assistant Accountant and Office Admin , Hamdaani Food Company

to find out any mistake or ommitment of any transaction

Murad Ali Khan
by Murad Ali Khan , Assistant Accountanat , Finance Department, KPK

If the General Ledger have some flaws or not reconciled, how we could be able to prepare authentic Financial Statements. the main purpose of reconciling the same is to become sure of the balances of individual accounts leading to Trail Balance and ultimately to Financial Statements. It is also to put a recheck on the General Journal. 

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