A bank reconciliation is used to ensure your account(s) are accurate by means of comparing your ledger of transactions to your bank records. Transactions are defined as payments, bank fees, and deposits. In addition, reconciling the credit card payments that support your business account(s), allows you to visualize your expenses, uncleared transactions, and balance. It’s recommended to engage in actively updating your records on a monthly basis.
Investing in a bookkeeping service provider will protect your business against reconciliation discrepancies while creating symmetry across your accounts and bank statements. Platinum Bookkeeping and Tax offers monthly reconciliation solutions to help balance your business. Utilizing a cloud-based application of QuickBooks software, clients will be able to view and edit their financial information 24/7.