Responsible for reconciling bank accounts against General Ledger. Duties include reconciling checks and/or deposits, researching discrepancies, posting journal entries, processing check copy requests, filing, and other miscellaneous clerical tasks.
It is the process of matching entries (e.g. customer payments, bank fees) on the company's cash books with the corresponding data on its bank statements. Bank reconciliation is important for detailed visibility into cash availability, accurate reporting, fraud detection, faster financial close, and seamless audits.
Bank reconciliation is a very important task for any company. For small businesses, the main goal of reconciling your bank statement is to ensure that the recorded balance of your business and the recorded balance of the bank match up. It also helps you manage and monitor your cash flow.
The advantages of a bank reconciliation statement:
1 - It identifies fraudulent activity.
2 - It helps to prevent mistakes.
3 - It keeps the account in good standing.
4 - It helps with receivables tracking.
I will maintain your Bank daily.
