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Banking and Credit Card Reconciliations
It is natural for a business to have many transactions. But with many transactions comes the risk of losing sight of fraudulent charges, overcharges, and more.
The bank and credit card reconciliation process compares the transactions listed on bank statements and credit card statements to the records that your business has on file. Promptly catching discrepancies is the key to resolving them quickly and avoiding costly consequences.
The purpose of bank and credit card reconciliation is to determine any discrepancies on bank and credit card statements, investigate them promptly, and protect your business from unnecessary charges.
Our bookkeepers will make sure all of your purchases are included, catch any errors that may have been made, and ensure no fraudulent charges have been made to your account. Not only does this avoid any extra charges, but it’s an important part of overall financial management.
It’s equally important to reconcile these statements every month. You don’t want to realize in 6 months that someone wrongly charged you for something you didn’t purchase.