Can some accountants out there advise what is account reconciliation?

Account reconciliations: It appears that all accounting jobs require applicants to do this.





Please outline the process of account reconciliations, this is not something i seen in the textbook.





To my knowledge, acct reconciliations should be done monthly right, but my supervisor said capital asset balance account is only done once a year at year end.????





Please help me!Can some accountants out there advise what is account reconciliation?
Generally, reconciling the accounts means comparing the account balances with the transactions over a time period, and ensuring that all the credits and debits since the last time the accounts were reconciled reflect the new account totals.Can some accountants out there advise what is account reconciliation?
It's like, do you have a checking account? You check it at least once a month.


CAPX is finalised at year end, but if you have a lot it is easier to keep up with it during the year.