From small to big firm, everybody needs reconciliation services to the actual balance status of the business. This process of reconciliation is literally checking of each and every transaction on your bank account statement with your firm’s accounting books and where credit card reconciliation also done with same procedure by matching all transaction done through credit card with various accounts of firm’s chart of accounts. These steps are important to ensure that balances are correct and accurate. This also helps you to figure your accurate availability of funds, on basis of these funds business is able to make strategies and can invest on right time.
Cogneesol offers the complete bank and credit card reconciliation solution of last 9 years. We help you to eliminate accounting errors, reconciliation on monthly basis helps you to maintain identical bookkeeping record as respect to bank statements. Our reconciliation you to figure out fraudulent transaction or unwanted transaction or any other bank charges. There are many chances of mismatch between your firm’s books and bank statement because some time you paid a check it delayed for months and months, so the issued check from this month will cashed on another month makes you surprise, so reconciling account every month gives you a keep track record of all transaction.
By outsourcing bank account reconciliation to Cogneesol you will able to save upto 60% as you don’t need to hire inhouse team that needs extra hardware, space, training, leaves and another allowances, so you don’t need to invest extra on non-revenue generating department. Where outsource service provider does not need any holiday or training etc. they are available 24/7 to assist you.
Also Read: Importance of Cash Reconciliation and Cash Forecasting For a business
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