Caines Hodges
Bank Account Reconciliation
A bank account reconciliation statement compares the cash balance on the balance sheet of a business with the corresponding amount on the bank statement. The two accounts can be reconciled to see if any accounting adjustments are required. To maintain the accuracy of the company’s cash records, bank reconciliations are carried out on a regular basis. They also aid in the detection of cash manipulation and fraud.
Reconciling your business checking account each month allow us to keep your bank account, accounting, and taxes up-to-date.
Having us reconcile your account each month allows you to:
- ZIdentify lost checks, lost deposits & unauthorized wire transactions.
- ZDetect and prevent excess/unjustified bank charges.
- ZEnsures transactions are posted correctly by your bank.
- ZDetect and prevent embezzlement of funds from within your company.
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How can YOU benefit from bank account reconciliation?
Proper management of your funds not only saves money, it makes money for you. 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 is why bank account reconciliation is so important for your business.
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.