reconciliation

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Reconciliation

The restoration of peaceful or amicable relations between two individuals who were previously in conflict with one another.

Reconciliation ordinarily implies forgiveness for injuries on either or both sides. The term is often applied to the parties to a Divorce who cease proceedings for the dissolution of their marriage upon a resolution of their differences. Reconciliation is used interchangeably with conciliation.

reconciliation

noun accord, adjustment, amnesty, appeasement, arbitration, conciliation, concord, concordance, forgiveness, harmony, improved relations, mediation, mollification, mutual forgiveness, pacification, peace, peacemaking, propitiation, reconcilement, restoration of harmony, reunion, settlement, understanding, union
Associated concepts: reconciliation of contradictory clauses
See also: accordance, adjustment, arrangement, compact, compatibility, compromise, concession, conciliation, expiation, intercession, mediation, mollification, pact, peace, rapprochement, settlement, understanding

RECONCILIATION, contracts. The act of bringing persons to agree together, who before, had had some difference.
     2. A renewal of cohabitation between husband and wife is proof of reconciliation, and such reconciliation destroys the effect of a deed of separation. 4 Eccl. R. 238.

References in periodicals archive ?
Editors note: This checklist is adapted from "Best Practices to Improve Account Reconciliation," CPA Insider, Nov.
Account reconciliation templates that are pre-populated with accurate and relevant data drawn from any ERP system.
The savings to be gained purely from the elimination of paper, binders and storage associated with the account reconciliation process can add up significantly.
Prior to 2007, all of our account reconciliations were done on paper with approval signatures required on the paper copies," says Brissette.
Streamlining and automating the account reconciliation process will help a company tackle this compliance-driven activity.
Sheila Vogelberger, Chesapeake's Vice President of Accounting Consulting and Development, said, "Balance sheet account reconciliation is a vital accounting process that serves as an important internal control over financial reporting, particularly as the filing deadlines companies face become tighter and deadlines for SOX compliance loom.
Procedures for how to prepare a certain account reconciliation also must be documented.
Account reconciliation problems have caused material weaknesses at large firms such as Eastman Kodak Co.
Respondents pointed to a lack of management focus, insufficient understanding of the process, a dearth of written policies and procedures and lack of training as challenges affecting their ability to sustain a timely and accurate account reconciliation process.
Virtually eliminate spreadsheets (and the manual errors that come with them) from their account reconciliation process
Genpact to Provide SmartStream's Account Reconciliation Solution as Flexible Business Process as a Service (BPaaS) Offering
Kevin Spars, managingdirector of financial reporting and accounting atBlackLine client company United Airlines, will follow sharing his experience on how global companies operating in a shared services environment can communicate better, improve efficiencies, increase productivity and reduce bottom line costs by implementing an automated account reconciliation and financial close system.