Tip of the Day: Bank Reconciliations

Back again with another tip of the day:

Bank Reconciliations

Make sure to reconcile your bank statement and credit card statements monthly. Don't just assume they are accurate or "the bank knows what they are doing". Also, if you have employees, make sure to review the statements first in order to catch any unauthorized transactions.

Save all statements for future purposes. I prefer to scan onto my computer then upload to an off site server. I dont have that big of an office so the thought of keeping each statement is a bit overwhelming.

Also do this with credit card statements, lines of credit, mortgages, car notes, etc. The only person protecting your business is you. Stay on top of things.

Take care,

Crystal

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