Automated Bank Reconciliation

<p>Account reconciliation is a crucial part of every company's accounting process, and helps to ensure that<br>- you know where your money is coming from and going to,<br>- all your transactions are properly documented, and<br>- the internal financial ledgers and statements are in line with the external financial statements<br><br>The general idea of reconciliation is to compare two sets of data and check whether the entries in one dataset equal the entries in the other.<br><br>When it comes to account reconciliation, you’re comparing two financial records and want to confirm they are consistent and complete so that only correct values are reported in the general ledger. Discrepancies will uncover mistakes from simple errors through to fraudulent activities.<br><br>This blueprint workflow can be deployed as a data app and lets users perform bank reconciliation, one of the most popular types of account reconciliation which compares the company’s internally recorded transactions, e.g. in the cash book with transactions recorded externally, e.g. bank statements provided by the bank. <br><br>The workflow uses example data available on Kaggle.<br><br>Read more on the topic Bank Reconciliation on the KNIME Blog: https://www.knime.com/blog/knime-finance-bank-reconciliation</p>