📚 As bookkeepers, we love to reconcile! We love to find ways to ensure that we have captured everything accurately. 💼 One of our clients is a law firm. They accept retainers that must be held in a separate trust account (IOLTA). They maintain many entries in their billing system, but we check their work...
Keeping your financial records up to date is a crucial aspect of effective bookkeeping. However, weekly updates do more than just ensure accuracy—they can also help identify discrepancies and errors that might otherwise go unnoticed. In this blog post, we’ll share a success story that highlights the importance of weekly updates in catching and rectifying...
The Importance of Monthly Account Reconciliations and Reviews As a business owner, you must review your financial reports regularly to ensure your business is on track. One crucial aspect of this process is reconciling your accounts each month. Once you’ve completed your reconciliations, it’s time to review your financial reports and look for any discrepancies...