Reconciliations ensure that your books are correct, and help to prevent fraud.

There is no assurance your books are correct until the bank and credit card statements are reconciled.

Money in the Bank and Money Going Out. Keep track with Focused Account Reconciliation Services.

The Reconciliation Process

We download and record bank and credit card transactions and then reconcile accounts. We’ll review for write-offs and prepare your reports.

  • We keep costs low by automating everything that can be automated.

  • We set up your bank account and credit card accounts to download transactions instead of entering them. This speeds up the month-end closing process, allows more data to be captured in QuickBooks than you would enter manually, and costs less.

  • We review the uncleared transactions at the end of each month to make sure we’re writing off transactions that will never clear the bank. Otherwise, your financial statements, and your tax liability, is potentially wrong.

  • We set up your QuickBooks file to remember the vendor that you used the last time a transaction was entered. That means the system remembers that you charged Shell  to auto:fuel. This saves time (e.g. money) and helps make sure your accounting is done consistently. We can easily change the account code or job costing before it posts, but you’re only paying for exception processing, not manual entry of every credit card transaction..

Fraud Prevention

Bank account reconciliation is a great way to help reduce the risk of fraud. We can review the payee on every check and compare it against the payee in QuickBooks to make sure nothing funny is going on.

If you don’t look at the payee on the bank statement, you won’t know if a bill that shows up in QuickBooks as paid to Telus, was really paid to your office manager who had changed the payee.