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Bookkeeping

Reconciliation Tips

The reconciliation process can quickly get overwhelming if you fall behind on your bookkeeping. Here are five tips to make your bank reconciliation efforts more efficient, and less of a headache.

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Reconciliation Tips

Q: What is bank reconciliation?
A: Bank reconciliation is the practice of comparing your bank statement to your bookkeeping records over a certain time period, finding the discrepancies between them, and “reconciling” those discrepancies. Discrepancies are reconciled once you pinpoint their source, make note of it in your records, and ensure that your business has that money correctly accounted for.

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