The Importance of Reconciling Daily
The primary function of reconciling is making sure the bank’s records match your book’s cash transaction records. Just keeping good records isn’t enough. We see charges as they occur by reconciling daily, so we know the up-to-date current balance. If a check clears for the wrong amount, or a check clears for the second time (which is increasingly more common with ATM/mobile deposits), it could throw off a business’ account balance and could cause other outstanding items to b
