The process of comparing your accounting records to your bank statement to ensure they match and identify any discrepancies.
Bank reconciliation means comparing your internal financial records against your bank statement to make sure they agree. If your books say you have $10,000 and the bank says $9,800, reconciliation helps you find that $200 difference and understand why it exists.
Regular reconciliation catches errors, identifies fraud, and ensures your records are accurate.
Common reasons your records might not match the bank:
Monthly reconciliation is standard practice. Many businesses reconcile weekly or even daily for better control. The more frequently you reconcile, the faster you'll catch problems. Most accounting software makes reconciliation straightforward by importing bank transactions automatically.
Invoicer tracks every invoice and payment so reconciliation is simple.
Try Invoicer Free
