Reconciling your accounts each month is an important process to complete so that you have accurate and timely financials. You will want to reconcile each of your balance sheet accounts. However, I recommend focusing on the four main account types, and then working on the rest of the account. The four main account types you will want to make sure to reconcile are Cash, Accounts Receivable, Accounts Payable, and Inventory.
In this blog post I will go through the process we recommend for reconciling your cash accounts each month. In future blog posts I will review the process for Accounts Receivable, Accounts Payable, and Inventory.Read More