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Tips for a more efficient bank reconciliation process


  • Have all the necessary information and documentation available. In order to be able to detect the missing information, the erroneous or the misplaced information, the more information we have, the better.
  • Note the box. It is very important not to forget the box. It is also part of the treasury of the company, so if we do not take it into account errors in conciliation may arise.
  • Conciliar by stages. It is advisable to start the process by checking the final balance of the previous month, and if necessary even longer. This practice will serve us in case we have posted a move on a date before the balance sheet. In this way, if we find an error it will not be necessary to review point by point, but by intervals.
  • Analyze the negates. It is common for accounting errors to occur due to common mistakes or minor oversights such as duplicating a note, not counting a move or making a mistake in the order of a figure. Before you waste time reviewing point by point, you can try to identify the source of the misunderstanding thinking about errors of this type and check if we can relate it with errors of this type. This will save time.
  • If you find a case without justification, consult with your bank. It is not usual, but it can also happen that the banks make some mistake. We can charge or enter an amount that does not correspond to us, or that they are wrong of account if we have several accounts in the same entity. If you find a case without justification or have any doubts, consult with your bank.
  • Uses the conciliatory items as a last resort. Putting aside in a separate game so that the two sides match is an easy solution, but not the most effective, since the mischief is still there. If too much accumulation occurs, the accounting of the company will be increasingly removed from its reality, and it will be more difficult to put order.
  • Automates the process. As you know, in the day to day in which we move, any manual management requires more time and has more possibilities of error. The same is true with the bank reconciliation process. There are tools that automate and digitize the process or part of it to make the task more productive and more controlled.


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