What is the definition of Reconciliation account? | Dictionary.net

RECONCILIATION ACCOUNT

\ɹˌɛkənsˌɪlɪˈe͡ɪʃən ɐkˈa͡ʊnt], \ɹˌɛkənsˌɪlɪˈe‍ɪʃən ɐkˈa‍ʊnt], \ɹ_ˌɛ_k_ə_n_s_ˌɪ_l_ɪ__ˈeɪ_ʃ_ə_n ɐ_k_ˈaʊ_n_t]\

Definitions of RECONCILIATION ACCOUNT

1910 - Black's Law Dictionary (2nd edition)

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A kind of general ledger account that contains a summary of sub-ledger accounts. Since the reconciliation account only provides a summary, no transactions will be directly posted to this account.

1910 - Black's Law Dictionary (2nd edition)
By Henry Campbell Black

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