Reconciliation is the process restoring good relations. Reconciliation usually involves forgiveness so that two or more parties that had been in disagreement can come together again.
To forgive one-another as Christ first forgave us.
The major controls over petty cash are the control over safekeeping, approval for disbursement and recociliation.
The major controls over petty cash are the control over safekeeping, approval for disbursement and recociliation.
Income recociliation is a chek done to ensure that all income recieved or accrued matches the other party we are reconciling with. Example a fund accountant reconsiles the total income like Dividend or Interest accured in a particular security on a day with custody or other sources like BBG etc.
In Roman Catholic teaching, the Sacrament of Penance(commonly called Confession, Reconciliation or Penance) is the method given by Christ to the Church by which individual men and women may be freed from sins committed after receiving Baptism. Recociliation happened because if people keep on sinning they won't receive salvation and can never have eternal life. By Confessions, Sins are forgiven and humans can experiece peace and salvation.