Bank reconciliation is a process of comparing the bank statement balance to the company’s own records of cash transactions to identify any differences or discrepancies between the two. The purpose of bank reconciliation is to ensure that the company’s financial records accurately reflect its actual cash balance.
Reconciling (checking for accuracy) for your business checking account each month, we keep your bank account, accounting, and taxes up-to-date.
By performing regular bank reconciliations, a company can ensure that its financial statements are accurate and reliable and that any errors or discrepancies are identified and corrected in a timely manner.
This can help to prevent fraud, identify cash flow problems, and provide a clear and accurate picture of the company’s financial health.
Some things we do when reconciling your business banking:
Keep all your accounts balanced and secure.
Identify lost checks, lost deposits, and unauthorized transactions of any kind.
Detect and prevent excess/unjustified bank charges and ensure transactions are posted correctly by your bank.
Detect and prevent embezzlement of funds from within your company.
Help you manage your cash more effectively.
Report to you the financial status of your business and all your accounts.
Proper management of funds not only saves you money, it makes you money. You will sleep more peacefully at night knowing your accounts are reconciled, in balance and that all escrow funds, accounts, checks and disbursed funds are properly organized and accounted for.
For more information:
https://maaccountantsllc.com/
+1 718-433-9044
info@maaccountantsllc.com