Month End Reconciliation

Which is correct, the total on your Bank Statement or your Accounting Software?

Whether you do the Accounts Payable & Accounts Receivable posting or we do it, let us do your Month End Reconciliation for your bank each month and ensure that your posts are going to the correct accounts and that your bank statement matches with your accounting software.

Keeping track of where your cash is going on an ongoing basis is important to the health of your business and may be a requirement of a loan or a line of credit. Reconciling your bank account to your internal financial records helps you identify any unusual transactions and help you spot inefficiencies before they become larger issues.

Month End Reconciliation includes your Bank Reconciliations and your Aged Accounts Payable and Aged Accounts Receivable Reports. Your Bank Reconciliation confirms that your accounts match what is in your bank. Your Aged Accounts Payable tells you who you owe, and how long you have owed them. While your Aged Accounts Receivable Report tells you who owes you and how long they have owed you for.

If you don’t use Month End Reconciliations, then your books are not up to date. Let us improve your efficiency, contact us for a one-hour free consultation.