How often do you complete your bank reconciliation?
Once a week, once a month, once a quarter?
The answer to that question really depends on the amount of transactions going through the account. Sometimes if there are a lot of transactions it’s easier to reconcile on a weekly basis as it can become difficult to find where the error lies if you have a lot of receipts and invoices to go through.
We would recommend doing this at least once a month, if you don’t reconcile your bank accounts more frequently. This means that all the transactions relating to your business are accounted for on a regular basis.
Leaving reconciliations for long periods of time can mean that you can’t remember what transactions relate to or, even worse, find the receipt for them.
If you don’t find you have the time to complete regular bank reconciliations for your business then get in touch with us.
We can complete a bank reconciliation on a regular basis and help set you up with the tools you need to help keep track of those receipts and invoices.
For more information on how we could help you contact us on 01384 465 131.