The most common type of financial institution chartered by the state government to hold assets of customers/members and lend money. Monitored by the Federal Reserve, banks must comply with strict regulations to continue operations. It is one of the required relationships for any small business owner.
The bank reconciliation is a daily accounting function for every small business. In order to fully appreciate its value, the small business owner needs to understand the fundamentals of how bank reconciliations are performed. In […]