Small business accountants in Sydney will explain what reconciliation is
Ever wondered what your accountants mean when they start talking about reconciling your accounts? Our small business accountants in Sydney will explain reconciliation for you.
Reconciliation is an accounting process that uses two sets of records to ensure figures are accurate and in agreement. This is the key process for determining if the amount of money that has left the accounts, is still the same amount that has been spent.
Account reconciliation is important for businesses as it enables them to check for fraud and also prevent balance sheet errors. Most businesses use proper accounting software such as Xero, to try and avoid these mistakes. Our business accountants highly recommend Xero as your accounting choice software.
Contact our small business accountants in Sydney to let us make sure your accounts are in order and match up!