The concept of reconciling the general ledger can also refer to examining the general ledger as a whole to ensure that all accounts are being aggregated into the financial statements. This reconciliation process involves the following steps:

☛ Summarize the ending balances in all revenue accounts and verify that the aggregate amount matches the revenue total in the income statement.

☛ Summarize the ending balances in all expense accounts and verify that the aggregate amount matches the expense total in the income statement. This can be conducted at the individual expense line item level in the income statement.

☛ Summarize all asset, liability and equity accounts and verify that the aggregate amounts match the respective line items in the balance sheet.