Bank Reconciliation & Certifications of Balance
Bank reconciliations can be tedious work, especially if you can’t reconcile your statements and can’t figure out why. Luckily, we love that sort of thing.
Lots of entities have problems with bank reconciliations. If your statements don’t reconcile, you might think that a little adjustment here and a small adjustment there is no big deal. And you’re right – it might not be. But it might also be a sign of a much larger problem. And the longer it goes on, the harder and harder it is to fix.
Your entity might even become listed as unauditable if you can’t reconcile your statements.
Certifications of Balance
It's a good best practice to get a certification of balance any time there is a change in accounting personnel. Basically, it’s like a mini-audit of your most recent bank reconciliation. In a way, it gives your new employee a clean slate to work with – confidence that the statements are correct. And it clears the departing employee’s name in the event of any future issues.
Email Rea & Associates to find out what solutions we can offer to address your specific challenges.