Website Links
Bank Reconciliation
  Cleveland, OH Services      Home  Bank Reconciliation

Bank and Credit Card Reconciliation is performed on a monthly basis so that the business owner understands the differences between the balance shown in the bank statement and the balance shown in the business’s bookkeeping records.

Having the bank account reconciled monthly is of utmost importance. Both the bank and the business owner maintain independent records of the checks issued, deposits, and the balance in the bank account. The bank reconciliation helps validate that these independent records are matching.

In general, you will have differences between what your bank statement is showing vs. what your bookkeeping records are showing.

Normal differences between bank and bookkeeping records
  •    Deposits in transit
  •    Outstanding checks
  •    Bank service charges
  •    Interest earned credits
  •    Foreign Exchange transaction fees
  •    Charges for depositing NSF (Not Sufficient Funds) checks

We’ll take the time to learn about your business then develop a customized plan
to meet your company’s needs.

  • Acctimize - graphic logo - accounting, bookkeeping and financial analysis firm |  Copyright 2024 © Acctimize - all rights reserved  |  site version: