Reconciling your bank accounts each month in Cashflow Manager is one of the easiest ways to make sure that your financial data is up to date and correct.
However, many small business owners who take care of their own bookkeeping aren’t doing this regularly yet.
Since so many of you have asked questions about this topic, we thought we would first explain the importance of completing your bank reconciliation regularly, and also run through how to go about it using Cashflow [...]
The first ‘Deadly Sin’ small business owners are notorious for committing is not reconciling their records to their bank statement.
Performing a bank reconciliation is the most important indicator as to the quality of your records because it indicates that everything that has gone through your bank has been included in your accounts. It is one of the simplest ways to make sure that your financial data is up to date, and it’s one of the first things that both [...]