As a business owner, it’s crucial to reconcile your bank, credit card, and loan accounts every month. By keeping your accounts up to date and reconciled, you’ll find the process quick and efficient, and it can provide many benefits for your business.
Your monthly reconciliations will show you where your finances stand and alert you to inaccurate or fraudulent activities. Finding and correcting these inaccuracies with your financial institution right away is essential. In addition, reconciling your accounts monthly produces accurate financial reports to help you make smarter financial decisions.
Business owners can feel confident that the data in their files is current and reliable. This clarifies your finances, so entrepreneurs can determine if they have the resources available for those larger purchases. Financial institutes will also want to know if you have the cash flow. For example, a profit and loss or a balance sheet can determine if you qualify for loans, credit increases, or lower interest rates.
So make a date with your bank and credit card statements at the beginning of each month. A few minutes can save you time and money in the future. At ZümiFi, we’re here to help you stay reconciled and provide bookkeeping services to manage your financial activity with a complete turnkey approach.
Our bookkeeping services create a custom combination of online, cloud-based tools, including QuickBooks Online, Bill.com, Box.com, and other tools in unique combinations to leverage technology fully. As a result, we eliminate data entry and simplify and facilitate your bookkeeping while ensuring accuracy and completeness so that every dollar counts.
Our scope of bookkeeping services includes recording, tracking, and paying vendor bills; recording and tracking customer invoices and payments; processing payroll per each client’s instructions; reviewing and balancing bank and credit card transactions; notifying the client of any discrepancies; and generating financial reports based on the collected data.
In conclusion, reconciling your accounts monthly is crucial for your business’s financial health. At ZümiFi, we can help you stay reconciled and provide bookkeeping services that leverage technology fully, simplify and facilitate your bookkeeping, and ensure accuracy and completeness.
Contact us today to learn more about our bookkeeping services and how we can help you manage your financial activity.