Bank Reconciliation

Bank reconciliation involves verifying that your accounting records match your bank account. We compare what you have recorded in your ledgers with the statement provided by the bank, and then we explain each discrepancy: an uncashed check, bank charges, or a data entry error.

Brief

Compare your accounting records (your ledgers) with the bank statement
Find and explain each discrepancy: check not yet cashed, fees, data entry error
This needs to be done every month, as soon as the statement arrives.
The goal: accurate figures and reliable financial statements (the company's numerical profile).

Why does this matter?

Imagine noting every expense in a notebook, but never comparing it to your actual receipts: after a year, it would be impossible to know if the notebook was accurate. Reconciliation is exactly that moment of verification, but between your accounting system and your bank. Without it, an error or fraud can go undetected for months, and the bill will skyrocket at tax time. Bankeo provides you with a free, audited accountant/CPA who will handle this every month, at no cost to you, and we'll be there to support you every step of the way.

Frequently asked questions

What exactly is bank reconciliation?

It involves comparing, line by line, what your accounting records show with what your bank statement shows, and then explaining the differences. For example: a check that you recorded but that the person has not yet cashed.

How often should it be done?

Ideally, every month, as soon as the bank statement arrives. The longer you wait, the more spreads accumulate and become difficult to trace, which can distort your financial statements (the numerical portrait of the company).

Who can do my bank reconciliation?

An accountant or bookkeeper does it for you, month after month. Bankeo introduces you to a verified accountant/CPA free of charge, and we remain by your side.