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Reconciling 101

May 14, 2021

We say it time and time again - it’s vital to reconcile on a regular basis! But, what does that really mean and how do you reconcile? And, why bother?

To reconcile, in accounting terms, means you compare two sets of reports to make sure the numbers match up. This involves your internal bookkeeping records and your bank account, credit card statement, or similar. It’s a simple process of verification, but can be a huge life saver. You should get in this habit of doing this - you’ll catch mistakes sooner and be able to adjust accordingly quicker. 

Reconciliation should happen on a monthly basis since most statements arrive monthly. This is also a short enough amount of time that if things don’t align, you will be able to fix them without too many

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Skynar Bookkeeping – Corporate Office – South Lyon, Michigan
13052 Pembrooke Circle
South Lyon, MI 48178
Phone 734-335-7702
Email info@skynarbookkeeping.com
68300 CR 388
South Haven, MI 49090
Phone 734-335-7702
2534 SW 13th Ave
Cape Coral, Florida 33914
Phone 239-361-2100

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