Reconcile to Save Your Business

Avoid extra taxes 
Manage cash flow 
Recover bounced customer payments.

When complete, all bank statement transactions have matching transactions in the accounting system and the reconciled balances in the accounting system will match the bank statements.  Uncleared transactions in the accounting system such as recent cheques which have not cleared the bank as well as errors and issues are identified.

  • bounced payments by customers
  • bank or entry errors
  • bank charges not accounted for
  • deposits and disbursements not accounted for
  • duplicate accounting entries
  • Stale dated cheques which need to be written off
Reconciling helps avoid a cash flow crisis and aids your accounting system in properly representing your financial position to the bank, the government, lenders, and most important, to yourself.

One Response to “Reconcile to Save Your Business”

  1. business world Says:

    business world

    Reconcile to Save Your Business | Mark Friedberg's Blog

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