HOW IT WORKS

Bank and Credit Card Account Reconciliations

Money in the Bank and Money Going Out – Keep track with StrategyPlus’s Account Reconciliation Services. 

How StrategyPlus handles bank and credit card reconcilliations for your business:

• We download and record bank and credit card transactions and then reconcile accounts. We’ll review for write-offs and prepare your reports.
• We keep costs low by automating everything that can be automated.
• We set up your bank account and credit card accounts to download transactions instead of entering them. This speeds up the month-end closing process, allows more data to be captured in accounting software than you would enter manually, and costs less.
• We review the un-cleared transactions at the end of each month to make sure we’re writing off transactions that will never clear the bank. Otherwise, your financial statements, and your tax liability, are potentially wrong.
• We set up your accounting software file to remember the vendor that you used the last time a transaction was entered. This saves time (e.g. money) and helps make sure your accounting is done consistently. We can easily change the account code or job costing before it posts, but you’re only paying for exception processing, not manual entry of every credit card transaction.

Bank account reconciliation is a great way to help reduce the risk of fraud. We can review the payee on every check and compare it against the payee in software to make sure nothing funny is going on. If you don’t look at the payee on the bank statement, you won’t know if a bill that shows up in accouting sofware as paid to Etisalat, was really paid to your office manager who had changed the payee.