Why is it important to reconcile your bank statements?

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asked Mar 20, 2022 64.5k views

2 Answers

Diego Ledesma · Answer 1 · 2022-03-22T06:24:57+0000

Answer:

When you reconcile your business bank account, you compare your internal financial records against the records provided to you by your bank. A monthly reconciliation helps you identify any unusual transactions that might be caused by fraud or accounting errors, and the practice can also help you spot inefficiencies.

Esycat · Answer 2 · 2022-03-25T02:30:41+0000

Answer:

hen you reconcile your business bank account, you compare your internal financial records against the records provided to you by your bank. A monthly reconciliation helps you identify any unusual transactions that might be caused by fraud or accounting errors, and the practice can also help you spot inefficiencies.

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Why is it important to reconcile your bank statements?

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