How do you look for discrepancies between accounting software and bank statements while reconciling?

The reconciliation process is the task that a company performs to check the accuracy of their books with their accounts. The accounting software and bank statements are reconciled by comparing the balances for each account to make sure they are correct. After comparing, discrepancies can be found which may be due to transactions that have not posted on the account yet. Differences between accounting software and bank statements will also need to be addressed through adjusting entries or reclassifying transactions in order to ensure accurate records after making adjustments or corrections.