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Wed May 26, 2021 | | Accounting, Business, Small Business

Why Is A Monthly Bank Reconciliation Important?

monthly bank reconciliation

Conducting a bank reconciliation each month helps you understand your company’s cash flow, protect against overdraft fees, and guard against fraud. The bank reconciliation process is a vital part of the checks and balances (no pun intended).  The best practice is to ensure that no individual has control over all financial transactions for a business.

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Wed May 26, 2021 | | Accounting, Small Business

Understanding Your Small Business Balance Sheet

small business balance sheet

As any small business owner, you know that you must keep track of your financial data: what your company earns, what your company owes, and your company is worth  (owner’s equity or stockholders’ equity). A small business balance sheet helps you organize and document this information so that you can assess not just your business’s assets, liabilities, and equity but, most importantly, the overall financial health of your company.

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