What is the outcome of account reconciliation in Workday?

The outcome of account reconciliation in Workday is accurately reflected in the choice of having accurate financial records that align with external sources. Account reconciliation is a crucial process that involves comparing an organization's financial records with external statements—such as bank statements or invoices—to ensure consistency and accuracy. This process helps identify discrepancies, which can be critical for maintaining the integrity of financial reporting.

When account reconciliation is performed effectively, it ensures that all transactions are accounted for and that the financial records reflect the company's actual financial position. This not only enhances the company’s credibility in financial reporting but also assures stakeholders that the financial data presented is reliable, thus aligning internal records with external validation sources. Accurate financial records are essential for making informed business decisions, compliance with regulations, and preparing for audits, ultimately contributing to the overall financial health of an organization.