Bank reconciliation is important for any type of financial situation. This can be from a personal stand point or from a business stand point. It is important to always keep everything accurate and equal so there are no problems down the road. If your bank is not reconciled it can lead to financial downfall and crises later on. Many people think that bank reconciliation is just making sure your bank account is accurate. This is not the only thing that is involved. The process of bank reconciliation is an extended process that includes many different aspects.