Question

Manually reconcile batch totals.

A) Automated reconciliation of batch sums.
B) Manual verification of batch numbers.
C) Cross-checking batch totals manually.
D) System-generated reconciliation of batches.

Answer 1

Option (C), Manual reconciliation of batch totals is a business process where transaction accuracy is checked without automated systems. It involves verifying transactions, ensuring correct totals, and cross-referencing with source documents.

Step-by-step explanation:

The subject in question refers to manual reconciliation of batch totals, a process which is typically found in accounting or any business practice where transactions are processed in batches. Manual reconciliation involves officers or employees checking the accuracy of the batch totals without the aid of automated systems. This is opposed to automated reconciliation where software is used to verify the accuracy of the transactions.

The process of manual reconciliation includes several steps such as verifying each transaction within a batch, ensuring that the totals add up correctly, and cross-referencing with source documents like receipts or invoices to confirm that the records are accurate. Manual reconciliation is often replaced or supplemented by automated systems to reduce the potential for human error and to streamline the verification process. However, in certain scenarios, a manual check might be necessary to ensure the accuracy of the financial records.