EPISODE 64 : Don‘t discount the power of the bank reconciliation

Bank reconciliations .. many have heard the term and others haven’t.  But regardless of which camp you reside in right now, as a business owner, it’s one thing you need to be aware of. 

With all the automated systems we have available to us, performing a bank reconciliation now is as easy as the press of a button, literally.  But regardless of the simplicity of it, it comes with a warning … just because it’s automated, doesn’t mean the information contained within it isn’t important to know and to know regularly!

I know I say this a lot .. but business is all about 2 pieces of paper.  Invoice in and invoice out.  These two little pieces of paper, can make or break our cash situation and the value of these two pieces of paper, are found on the bank reconciliation.

So I wanted to take a moment to talk more about the bank reconciliation and the importance it plays as a daily reminder to all business owners, that your bank reconciliation pays tribute to the way you run your business.  Be sure to take a listen. A x

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