Bank and Credit Card Reconciliation Services
It’s natural for a business to have many transactions. But with many transactions comes the risk of losing sight of overcharges, fraudulent charges, and more.
The bank and credit card reconciliation process compares the transactions listed on bank statements and credit card statements to the records that your business has on file. Promptly catching discrepancies is the key to resolving them quickly and avoiding costly consequences.
LedgersOnline’s bank and credit card reconciliation service can take care of this process for you.
Importance of Bank & Credit Card Reconciliation
The purpose of bank and credit card reconciliation is to determine any discrepancies on bank and credit card statements, investigate them promptly, and protect your business from unnecessary charges.
At LedgersOnline, our bookkeepers will make sure all of your purchases are included, catch any errors that may have been made, and ensure no fraudulent charges have been made to your account. Not only does this avoid any extra charges, but it’s an important part of overall financial management.
It’s equally important to reconcile these statements every month. You don’t want to realize in 6 months that someone wrongly charged you for something you didn’t purchase. When you work with a LedgersOnline bookkeeper, they’ll take care of this for you on a regular basis.
LedgersOnline's Bank and Credit Card Reconciliation Services
The bank and credit card reconciliation process typically includes your dedicated bookkeeper performing the following tasks on a monthly basis:
- Review of bank and credit card transactions
- Review of open cheques
- Importing transactions from statements to your software
- Reconciling transactions to your business records
- Investigating any discrepancies between statements and business records
Our flexible services are suited to meet the needs of your business. We’re here to help keep your business finances in good shape.
We Support Multiple Bookkeeping Software
At LedgersOnline, we offer flexible solutions and use the bookkeeping system that best meets your needs. No matter what system you’re currently using, we’re happy to help. We can also help you find the perfect software for you.
Our Key Differentiators
We’ll assign you a qualified bookkeeper with experience in your industry. They’ll take care of your financial needs and build a strong relationship with you. You’ll also have access to our cloud-based platform, LedgerDocs, for easily uploading your bank statements and credit card statements for your bookkeeper to access.
At LedgersOnline, you’re not just another client. Our service is personal and custom-tailored to your needs. Our team can take the burden of financial management off your shoulders.
Apps we work with
LedgersOnline offers a straightforward credit card reconciliation process that looks like this:
- You upload your credit card statement to our online application, LedgerDocs, for your assigned bookkeeper to access
- Your bookkeeper will review your credit card statement and reconcile it to your business records
- Your bookkeeper will reach out with any questions and investigate any discrepancies
And that’s it! After a simple 3-step process, your credit card statement will be reconciled, protecting you from potential fraud or excess expenses.
Typically, this process is performed once per month when your bank statements and credit card statements become available from your provider. However, some businesses may require more frequent reconciling to stay on top of many transactions. At LedgersOnline, we offer customized solutions so we can meet your business’s specific needs. Please contact us to get started with a custom solution.