How to Perform a Bank Reconciliation

Bank Reconciliations are an important internal control for your organization. They are designed to reconcile your bank statement with the information in your bookkeeping. If your accounting software doesn’t accurately reflect your bank’s statement, it can make it hard to find errors and manage your account balances. Most organizations perform them monthly, but that could vary depending on your needs.

Pro Tip: Have someone other than the bookkeeper check the month-end financials and bank reconciliation report to help spot errors. It is much easier to fix them if you catch them early.