Bank Reconciliation

Businesses make deposits and receive numerous receipts from their clients on a regular basis. Bank Reconciliation is a highly complicated and time consuming process. Reconciling your bank account statement is an absolute necessity even if it is a costly and time consuming task. Our bookkeeping services helps to resolve discrepancies in your bank statement by performing complicated processes such as sorting various transactions by type or date, deducting errors or by adding deposits in transit.

Bank Reconciliation Advantages :-
 
  • It makes important updates to General Ledger and receives timely entries from the other applications.
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  • Provides the ability to eliminate bank statement errors
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  • Enables to control cash outflow with the Void Checks and Stop Payments function
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  • Verifies the amount of cash in your account
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  • It uncover irregularities
  • Additionally bank reconciliation servers are highly secured, firewall protected and well monitored round the clock by experts who prevents unauthorized access to our network and systems. Our bookkeeping firm provides a wide variety of reports reflecting debit and credit card reconciliation activity, and exceptions that have occurred on the account.

    Our sophisticated tools will make the bank reconciliation process more accurate. By managing your bank reconciliation tasks in a professional and cost-effective manner, we serve as an extension of your small business accounting. You can outsource all your bank reconciliation requirements to us, save up to 40% to 50%. Each professional is assigned to only a single client, this helps them in developing specific knowledge required for that particular client.

    Our bank reconciliation service is most beneficial for organizations that do numerous financial transactions. Our bookkeeping services employs unique processes, time proven methods and experienced professionals to provide you with world class bank reconciliation process. We offer you the flexibility to outsource some individual functions or to outsource the entire internal accounting and bookkeeping functions to us.

    This statement is the most common tool used by organizations for reconciling the balance as per books of company with the bank statement and is made at the end of every month. The main objective of reconciliation is to ascertain if the discrepancy is due to error rather than timing.

    The difference between the two records on a given date may arise because of the following:-
     
  • Cheques drawn but not yet presented to the bank.
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  • Cheques received but not yet deposited in the bank.
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  • Interest credited and not recorded in the organization's books.
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  • Bank charges debited but not recorded in the organization's books.
  • Bank Reconciliation Statement process is being outsourced to professional accounting firms by large organizations. This helps them have an accurate view and also ensure that the company's bookkeeping is good. Accounting firms make monthly reconciliation statements for clients and help them determine any discrepancy.

    What we are about? Ebillsetc is a Accounting And Bookkeeping company offering outsourced bookkeeping services, online accounts, outsourced Tax Prepration Services and other Financial Services to its client in India, US, UK, Canada and Australia. We are a daily accounting & bookkeeping service working in real time. You will be communicating with the same full charge bookkeeper daily by Instant Messenger, Email, or Phone.
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