Account Reconciliation is the process of ensuring a business’ bank statements balance with its internal accounting statements. This is one of the most important managerial accounting tasks any business can perform, because it helps maintain accurate and timely bookkeeping.
- Compare trial balance with mature schedule
- Review general ledger entries
- Obtain readily available data for internal audit reconciliation
|Savings||Decreases bookkeeping costs and minimizes time spent reconciling bank statements.|
|Safety||Recognizes inaccuracies during reconciliation, allowing customers to review and make corrections faster. Identifies operational efficiencies and/or deficiencies.|
|Reliability||Ensures funds will be available to employees on payday.|
|Convenience||Collects data related to pending receivables/payables and confirms account balances.|
See for yourself how our cash management suite can help you save money and improve efficiencies.
Visit your local Financial Center, or call us at 1-800-363-8115 today!