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At Skynar Bookkeeping Services, we Set Up, Clean Up, and Keep Up with our clients’ bookkeeping. For help setting up your books, check out our past blog (link blog). Next is to clean up your books - but, what does that mean? In short, it means you reconcile. The process of reconciling can be as easy or as complicated as you make it, based on the time and attention you give your books on a regular basis.

Reconciliation requires meeting two criteria - verify the entry with the original documentation of the transaction and verify the entry with your bank statements. As you go entry by entry, double-check the original receipt for the correct amount and double-check your bank statement reflects this amount correctly. If the entry passes both criteria, move onto the next.