Analyzing Your Bank Statement On a Daily Basis
How many business owners take out the time to review and analyze their bank statements, daily? When we perform accounting tasks we basically record data from the bank statement and perform reconciliation to our cashbook or ledgers. Evaluating transactions on a bank statement is a completely different exercise from accounting for the respective items. Businesses lose thousands, due to failure to review the transactions on their bank statements, regularly. Payments When payments are reconciled, we compare amounts in our books to transactions on the bank statement. The payments however have to be verified as well. ...
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