Plain and Simple: Bright Business Insights Spring 2018 | Page 4

DON’T OVERLOOK THIS ASPECT OF YOUR FINANCIAL STRATEGY
Bank Reconciliation Is Important To Maintain A Successful Business
Would you like to avoid irregularities and mistakes that have the
potential to destroy your financial strategy? If so, it’s time to take your
Check For Costly Errors
bank reconciliation responsibility seriously. Many business owners When your balance book is off, it usually originates from timing
tend to put this work off, but bank reconciliation is one of the most differences that result from interest earnings, bank fees, deposits in
important pieces when it comes to running a business. transit and outstanding checks. These common errors are the reason
By making bank reconciliations a business priority, you give yourself
a greater authority to find errors while actively protecting your
business from fraud. So, what can you do to take control of your
financial strategy?
why you should actively manage your financial reports. Catching errors
early is essential to protecting the financial integrity of your business.