Bank Reconciliations
Systematic reconciliation of bank and financial accounts with general ledger records.
Overview & Scope
Our Bank Reconciliation service delivers structured matching of bank statements, credit card accounts, and merchant clearing accounts against internal books of account. We identify unrecorded entries, timing differences, and outstanding checks to ensure your ledger mirrors verified cash balances.
Key Deliverables & Value
- Accurate and up-to-date cash and bank balances in the accounting system
- Prompt detection of unrecognized bank charges, processing fees, or duplicate entries
- Essential foundation for dependable balance-sheet review and month-end close
- Defensible audit-ready reconciliation statements
Scope of Capabilities
Operating Bank Account Reconciliations
Systematic comparison of bank statement activity with cash ledger transactions to verify balance accuracy.
Credit Card & Merchant Clearing
Reconciliation of payment gateways, credit card statements, and merchant account settlements.
Outstanding Item Identification
Pinpointing uncleared deposits, outstanding checks, bank service fees, and interest transactions.
Discrepancy Investigation & Corrections
Investigating variance items and preparing necessary adjusting journal entries for client review.
How this service is executed.
Our structured methodology ensures transparency, thorough ledger control, and systematic documentation.
Statement Extraction & Intake
Obtaining authorized bank statements, settlement summaries, and transaction feeds.
Transaction Matching
Correlating debit and credit statement lines with corresponding accounting ledger entries.
Variance Identification
Documenting timing differences, unrecorded bank charges, direct deposits, and discrepancies.
Reconciliation Reporting
Producing period-end bank reconciliation statements with verified adjusted ledger balances.
Typical Client Profiles
- Businesses managing multiple operating, payroll, and merchant bank accounts
- Companies with active daily transaction throughput across bank and card accounts
- Enterprises preparing for month-end close or financial review
- Firms requiring reliable cash position visibility
Operational Category
Accounting Control • ENTRABALANCE GLOBAL LLP
Frequently Addressed Inquiries
How frequently are bank reconciliations performed?
Reconciliations can be structured on a daily, weekly, or monthly schedule depending on transaction volume and client operational requirements.
How are recurring bank fees and automatic deductions handled?
Unrecorded bank fees, interest, and pre-authorized debits are identified during reconciliation and entered into the ledger under appropriate expense accounts.
Discuss Bank Reconciliations requirements.
Connect directly with Yogeshwar Kale or Shubham Agarwal to review your workflow and scope this service for your business.
Initiate Consultation