24
Jul
One of the most highly sought-after bookkeeper services is Monthly Bank Reconciliations. Largely, this is a process that involves matching the financial records of the business with that of the banks. This process aims to uncover discrepancies, which in turn might represent fraud or error. The discrepancies can be minor - like a simple number being misreported, or something major like a large amount simply missing from the bank records. No matter what the discrepancy is, it does not bode well for the organization’s long-term health. In the worst-case scenario, an IRS Audit might just declare such discrepancies as a…