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What is bank reconciliation? Definition, examples, and process
Bank reconciliation statements ensure that payments were processed and cash collections were deposited into the bank. Bank reconciliation statements are often used to catch simple errors, duplications, and accidental discrepancies. They are helpful when reconciling...
Five Essential Finance And Accounting Strategies For Small Businesses
It could be that the software you use is outdated, poorly designed, or not suited to your business’s specific needs. While it may cost more to upgrade or install and begin using an entirely new program, this is likely to be a useful investment. With your new software,...
What Is a Bank Reconciliation Statement, and How Is It Done?
Keeping on top of your bank reconciliation ensures that you’re always aware of your company’s financial situation. This helps you anticipate any cash flow challenges so you can respond appropriately. Financial accuracy is also important for ensuring that all payments...