Reconciling Your Accounts Daily Gives a True Picture of Cash Flow

For a lot of business owners, just the thought of reconciling their accounts once a month is enough to make them go weak at the knees, never mind every day.

Some business owners feel that bank reconciliation is wasted time that doesn’t bring in revenue, yet there are plenty of contract and remote bookkeepers who work for their clients each week, and some that work every day for the same client, reconciling their accounts and providing other vital bookkeeping services.

And they’re not just big businesses whose accounts are reconciled daily — plenty of small businesses do so too.

In fact, with so many small businesses going asunder due to cash flow problems (often stemming from a lack of procedures in place for credit and debt management) it can be not only a cost-saver but a potential life-saver to your business. 

Continue reading Should You Reconcile Your Accounts Every Day?