An account reconciliation system having a particular usefulness in the reconciliation of centrally billed accounts and more specifically, in the reconciliation of centrally billed accounts in the travel industry is provided. The system and methods of the present invention expand on the traditional match/non-match techniques and provide complete transaction management for every item on a client's account. In another sense, reconciliation is redefined to include each and every transaction on an account regardless of it's reconciliation status, i.e., matched, unresolved, pending, etc. Consequently, the present invention reconciles the client's account to the account balance.