Are you tired of mundane, boring, and headache-inducing bookkeeping work? Are you going to go insane the next time you look at a bank account reconciliation statement? If so, our TFO Solutions team is here to help. We offer bookkeeping services to businesses throughout the Dallas/Fort Worth area and surrounding cities.
How Does Bank Account Reconciliation Work?
A bank account reconciliation statement is a summary of banking and business activity that matches a business’s bank account with its internal financial records. This outlines the deposits, withdrawals, and other activities affecting the bank account. This process helps ensure payments have been processed and cash collections have been deposited.
These statements are typically processed once every month. Larger companies with large expenses may even process a statement once every week to make sure everything is in order. All fees charged on an account by a bank must be accounted for on a reconciliation statement.
Why is it Important to Reconcile a Business Bank Account?
A bank reconciliation statement is one of the best ways a business can fight fraud. The purpose of these statements is to ensure everything is accounted for at the end of the month. Any unusual activity that may point to fraud will show itself these statements, allowing the company to handle the situation swiftly.
Keeping accurate journal entries and statements on a monthly basis will help keep your business more organized. As an owner or manager, you will have a better understanding of your monthly spending. This will allow you to make any changes necessary to improve your bottom line.
How TFO Solutions Can Help You
You and your employees don’t have the time to focus on bank account reconciliation statements. That’s why the TFO Solutions team is here to help you with all of your bookkeeping needs, including bank account reconciliation. This frees up valuable time for you and your employees, allowing you to focus on more important projects.
We go over the statement rules with your business, working with you every step of the way to ensure your records are accurate. We then present you with monthly statements, giving you an accurate overview of your monthly spending. We also remain on the lookout for any signs of fraud.
Contact Now For Help
You shouldn’t have to worry about mundane bookkeeping work. Let our TFO Solutions team take care of your bank account reconciliation. Give us a call today to find out how we can help. If you are in the Dallas/Fort Worth area or surrounding cities, we will help you right away.