There is always room for improvement, and what better time to take stock, analyze, and set in motion the changes necessary to facilitate improvement than at the beginning of a new year. Here are five surefire things you can do to launch your business to new heights. Afford Your Business a Website (With a Blog) Formulate a better relationship with your Customers or establish one Gain New
The purpose of a bank reconciliation is to ensure both the bank and your company’s transactions are in synch for a given period. Differences may occur, for example, because a check or a list of checks issued by the organization has not been presented to the bank; a banking transaction such as a credit received, or a charge made by the bank, has not yet been recorded in the organization’s books; a deposit that was made by your company has not yet been recorded by the bank; or either the bank or your organization has made an error. Banks rarely make mistakes, but they do – the tellers do!
Thus, it is very important to reconcile your account as soon as you receive your bank’s statement. Bank reconciliations do not have to be tedious; you can allow your computer to do the work for you by setting up a spreadsheet with all your transactions and then reconciling them against your bank’s transactions. You can also use software such as QuickBooks, which allows you to enter all your information and transactions, and reconcile them against your bank’s statement on a monthly basis.
You can also have your reconciliations done by letting a bookkeeping and accounting firm like us, do it for you. We are experienced and knowledgeable about all facet of bookkeeping, accounting, and reconciliations and would be happy to get your entire bookkeeping done for you.
Call us at 718-809-0367 to set up an appointment to help get your bank account(s) reconciled.