Bank and Credit Card Reconciliations
Bank/CC reconciliation
Proper reconciliation so you can be sure the numbers are right
Detect Errors
Detect errors like wrong fees, duplicate or missing transactions
Better Free Error
Get error free books to file your taxes correctly.
BANK RECONCILATION, even if the name sounds boring, is really a fun play exercise. We enjoy this as it is part of a regular basis to protect the clients from all kinds of pitfalls, track their cash flows, control unnecessary spending, and ensure a true and fair presentation of financial statements.
When we “reconcile” your bank statement or bank records, we compare them with your bookkeeping records for the same period and pinpoint every genuine discrepancy. We will provide you with a solution for all those discrepancies and assure you that no money has gone “missing” from your business.
Bank reconciliations aren’t limited to just your bank accounts. Reconciliation should cover all credit cards, PayPal, mortgages, lines of credit, and other accounts associated with business transactions.
Bank Reconciliation process we follows:
Switching between documents and comparing numbers isn’t everyone’s cup of tea. Bank Reconciliation is HOW YOU VERIFY YOUR BUSINESS ACCOUNTING NUMBERS
We are following the standard bank and corporate credit card reconciliation process for the delivery of our services. This process is customizable according to the needs of your business.
- We need all relevant statements for the period you need reconciliation.
- You will get help in accurate categorization of all transactions.
- Matching of all Inter-Bank transfers and credit card payments.
- Review and clean-up of missing and duplicate transactions showing in books.
- Double check that all withdrawals, deposits, and checks are accurately recorded.
- Highlight queries and transactions that are unmatched and send them for your review.
- Make sure that all queries and unmatching transactions are properly accounted.
- Verify that the closing balance of statement and books are FULLY MATCHED.
When you let us reconcile your accounts at regular intervals, you get the following benefits:
- To see your business books as it really is.
- To track the activities of collecting and spending money.
- To detect bank errors on the spot (e.g. wrong fees and charges).
- Track of missing checks, misplaced deposits and outstanding transactions.
- To clear undeposited funds showing in the balance sheet.
- Only the reconciled accounts can be considered as authentic and fit for decision-making.