A system and method for performing financial reconciliation of two systems using checksums generally consists of a primary and a secondary system connected via a communications network, wherein each system includes a data source and is adapted to independently calculate one or more checksums pertaining to the data according to the same formula and at the same time. Information, such as data pertaining to financial transactions, may be stored in the primary data source and replicated to the secondary data source via asynchronous messages. The data in the primary and secondary data sources may be reconciled at regular intervals by comparing the checksum calculated by the primary system with the checksum calculated by the secondary system at a given time. If the checksums match, the data is considered to be reconciled. If the checksums do not match, then a recovery process may be initiated to ensure that the data in the primary system is completely and accurately transferred to the secondary system.