PSA L&P - Bank Reconciliation: Why it is important to do bank reconciliations in your software

Why it is important to reconcile your bank statement 

  • To prevent fraud
  • To ensure that the system bank balance is accurate
  • To ensure that transactions have been recorded properly
  • To ensure that voided transactions have been processed correctly
  • To allow quick retrieval/review of bank reconciliation reports
  • To allow the user to quickly see which bank statement on which a transaction was cleared
  • To get information on outstanding transactions
  • To prevent transactions from being voided or deleted in error
  • To prevent delay in solving issues related to bank balances or bank transactions 







Was this article helpful?

0 out of 0 found this helpful

Have more questions? Submit a request