Tag: Outstanding Activity
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Bookkeeping – Bank Reconciliations (Lesson 47)
An essential task of bookkeeping is making sure the ledger accounts for cash reconcile to the bank. Your average person believes that this is a monthly task. Well in the private world, this may be true. But in small business, reconciling the bank account is a daily task.
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Bank Reconciliations – Fundamentals
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 addition, there are some higher level types of transactions that affect the cash position.