Save time, and increase accuracy with our bank reconciliation software. Connect your bank to sync with Sage Accounting to automatically capture, categorize, and reconcile your transactions.
Bank reconciliation is the process of matching cash accounts to bank statements in order to detect any discrepancies that could lead to inaccurate financial reporting and/or tax and compliance filing. This also helps to ensure that you have transparency of your financials and a safeguard against any fraud that could be taking place in your accounts.
You can prepare a bank reconciliation by comparing your cash account records from your business to your bank statements. If the the ending balance in your company's cash account is equal to the ending balance on your monthly bank statement, the accounts can be considered "reconciled.
Bank account reconciliation is super important in ensuring your financials are accurate so you can be confident that the numbers you report to the IRS are correct, and so that you can detect any discrepancies that may point to fraudulent activity in your accounts.
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