Bank reconciliations are a critical part of maintaining accurate and reliable financial records. By regularly matching your accounting records to your bank statements, we ensure your figures are correct, complete and up to date. Our bank reconciliation services help identify errors early, improve cash flow visibility and provide a solid foundation for reporting and compliance.
The Benefits
Improved Accuracy & Control
Regular reconciliations ensure your financial records reflect your true bank balances.
Early Detection of Errors or Issues
We quickly identify missing transactions, duplicate entries or discrepancies before they become bigger problems.
Clearer Cash Flow Visibility
Accurate reconciliations give you a true picture of your available cash at any given time.
Our process
Review of Bank Statements
We begin by reviewing your bank and credit card statements for the relevant period. This helps us understand your cash activity and ensures we’re working with complete and accurate information.
Matching Transactions
Each transaction in your accounting software is matched against your bank statement. We ensure income and expenses are correctly recorded, dated and allocated to the right accounts.
Investigation of Discrepancies
If discrepancies are identified, we investigate and resolve them. This may include correcting errors, identifying missing entries or clarifying unusual transactions with you.
Final Review & Reporting
Once reconciled, we complete a final review to confirm balances are accurate. We provide updated reports and ensure your records are ready for BAS, financial reporting or further bookkeeping work.
FAQs
A bank reconciliation compares your accounting records with your bank statement to ensure all transactions are recorded accurately and balances match.
Ideally, bank reconciliations should be completed regularly. Businesses with higher transaction volumes may benefit from more frequent reconciliations.
Yes. We can reconcile all relevant bank accounts, credit cards and loan accounts associated with your business.
We investigate discrepancies, correct errors and communicate with you where clarification is required.
Absolutely. Accurate reconciliations are essential for reliable BAS lodgements and smooth tax preparation.
Yes. Bank reconciliation services can be provided on their own or as part of ongoing bookkeeping support.
