Performing bank reconciliation on your business checking account each month allow us to keep your bank account, accounting, and taxes up-to-date. Bank reconciliation is where you go through your business’s records and match your records of transactions to the transactions on your bank statement.

Bank reconciliation is performed to figure out the differences, figure out why there are differences, and fix any mistakes made. By doing this once a month you can catch mistakes quickly and make sure they don’t spiral out into bigger and bigger mistakes. Those mistakes would make your records wrong which could mess up your attempts at planning for the future or expansion.

Having us perform bank reconciliation on your account each month allows you to…

Identify lost checks, lost deposits and unauthorized wire transactions.

Detect and prevent excess/unjustified bank charges and ensures transactions are posted correctly by your bank.

Detect and prevent embezzlement of funds from within your company.

Know how your business is doing? You can’t really know unless all accounts are reconciled and properly accounted for on your financial statement.

Manage your cash more effectively. Proper management of funds not only saves money, it makes money for you.

Protect yourself. By timely reconciling and promptly objecting to your bank about any unauthorized, fraudulent or forged checks presented to your bank and paid by that bank, you can relieve your agency of responsibility for the shortfall and transfer the risk to the bank. This reason to reconcile alone should be enough. Crime exists.

Sleep Better. You will sleep more peacefully at night knowing your bank accounts are reconciled, in balance and that all escrow funds, accounts, checks and disbursed funds are properly accounted for.

We here at Economic Solution Services, Inc. are ready to help you with all of your accounting and business needs! Please set up a meeting here.