Account and bank statement reconciliation is an integral part of maintaining good cash flow. Without timely reconciliation, your business risks missing bank errors, failing to identify fraud or theft, and underutilization of cash. For high-volume transactional businesses such as retailers, it can also be a struggle to verify cash deposits, credit card deposits, and gift cards.
Outsourcing Bank Reconciliation will help you stay on top of your accounts and identify costly errors or irregularities before they disrupt your company’s cash flow.
Reconciling bank account on daily basis and daily verification of deposits will help identify any problems immediately and can be corrected right away.
It also enables you to control business cash flows.
If there is any discrepancy found during the reconciliation by our team, will enable you to immediately resolve the issue, whether it is due to internal theft, a genuine mistake, counterfeit, etc.
Additionally, bank reconciliation allows you to identify and eliminate bank errors as well and thereby manage unwanted fees.
Daily verification of bank deposits simplifies the month end process for final reconciliation of accounts.