The Excitement of a Bank Reconciliation
Now I know some of you may not see the how a bank rec may be exciting (but it can be - really); however if its not working I have seen the frustration that it causes.
Do you have a reconciliation that wont work?
How will it affect my other modules on my software if I make a change? i.e. Debtors and creditors?
Where is the error? Where are the errors? How will this affect the GST? How will this affect the BAS Returns already lodged?
How will it affect my single touch payroll?
I've seen so many clients over the years struggle to reconcile a bank statement to their accounting system - and thats ok because accounting is not their passion - fixing cars, or plumbing or people or baking bread is their passion. But I have seen the relief when it is fixed and they are back to doing what they do best.
A reconciled bank account is essential to ensure you have an accurate accounting system - i.e. not double counting income or deductions.
The good news is there are so many tools that make this easy these days with cloud based software.
But when that still doesn't work I've developed lots of techniques that will leave you with a Reconciled bank account; that will avoid lots of re-entering of data
If bank reconciliations give you grief give Steve Sherrah The Mobile Accountant a call 0419 854 982.