Bank Feeds Categorization and Reconciliation
Appropriate bank feed categorization and doing regular bank reconciliation is like giving your business a boost of clarity and control!
Bank Feeds Categorization
Keeping your books organized starts with properly categorizing your bank transactions.
Here’s how I help:
✔ Review and categorize your transactions – Every income and expense is assigned to the correct account, ensuring your financial records stay accurate.
✔ Match transactions to invoices and bills – If you’ve received payments from customers or paid vendors, I make sure they’re properly linked to avoid duplicates or missing records.
✔ Identify and record missing transactions – Bank fees, loan payments, and other charges that aren’t automatically recorded? I’ll catch them and make sure they’re added.
✔ Set up bank rules for efficiency – For recurring expenses (like subscriptions or rent), I create smart rules so they’re categorized automatically, saving you time.
✔ Double-check everything before approval – Before finalizing, I review all entries to ensure accuracy, so your books are clean and ready for reconciliation.
Making sure your books match your bank statements is essential for accurate financials and peace of mind.
Here’s how I take care of it for you:
✔ Compare your bank transactions with your books – I go through each deposit and withdrawal to ensure everything is recorded correctly.
✔ Identify and fix discrepancies – Missing payments, duplicate entries, or bank fees? I spot them and make the necessary adjustments.
✔ Track outstanding transactions – If a check hasn’t cleared or a deposit is still pending, I make sure it’s accounted for.
✔ Ensure your balances match – The goal is to align your records with your actual bank balance, so there are no surprises.
✔ Provide clear reports – After reconciliation, you’ll get a clean, updated financial snapshot, helping you make informed decisions.
Note: All figures and names are from a demo company and are used for illustration purposes only.
