Reconcile Bank & Credit Card Accounts Monthly

Included in Platinum, Gold, & Bronze

As part of our Professional Accounting Services, we will reconcile your bank and credit card accounts each month and prepare a standard set of financial statements. Your finalized reports will be delivered monthly and uploaded in PDF format to your client portal under Messages and filed in the #Documents → Monthly Financials Folder.

Monthly Account Reconciliation (What This Includes)

As part of your month-end close bookkeeping services, ABBL performs a formal account reconciliation process to ensure your financial records accurately reflect your actual bank and credit card activity.

Statement Comparison & Verification

For each included bank and credit card account, ABBL obtains the monthly statement and compares the statement ending balance to the corresponding account balance in QuickBooks Online as of the statement end date.

This process confirms that:

• All transactions appearing on the statement are recorded in QuickBooks

• No transactions are duplicated or missing

• The timing of deposits and payments is reflected correctly

Transaction-Level Reconciliation Review

ABBL uses QuickBooks Online’s reconciliation module to professionally verify each transaction line by line. During this process, we:

• Match each deposit, withdrawal, charge, and payment to the bank or credit card statement

• Investigate and resolve discrepancies such as duplicates, missing items, or timing differences

• Identify uncleared or outstanding transactions for follow-up

• Confirm that transfers between accounts are recorded accurately and not duplicated

Only transactions that properly match the statement are marked as reconciled.

Review of Outstanding & Timing Items

ABBL reviews any items that remain unreconciled after the initial pass, including:

• Outstanding checks or payments

• Deposits in transit

• Pending or uncleared charges

These items are evaluated to determine whether they are valid timing differences or require correction, reclassification, or client follow-up.

Reconciliation Reports Included in Month-End Financials

Once reconciliation is complete, ABBL generates and retains the following reconciliation reports for each reconciled account:

• Reconciliation Summary Report

• Reconciliation Detail Report

These reports document:

• The reconciliation period

• The beginning and ending balances

• All cleared and uncleared transactions

• Adjustments made during reconciliation

The reconciliation reports are included as part of your month-end financial package and serve as formal documentation that the accounts have been reconciled.

Quality Control & Review

Reconciliations are reviewed as part of ABBL’s quality control process to ensure accuracy and consistency across all accounts before month-end financial statements are finalized.

What Reconciliation Does Not Include (Clarifying Boundaries)

The monthly reconciliation process does not include:

• Contacting banks or credit card companies on the client’s behalf

• Disputing charges with financial institutions

• Investigating fraudulent activity beyond identifying discrepancies

• Correcting historical periods outside the current month without an approved scope change

• Reconciling accounts not included in your selected program

Why Monthly Reconciliation Matters

Regular reconciliation ensures:

• Accurate financial reporting

• Reliable cash balances

• Early detection of errors or discrepancies

• Financial statements your tax preparer, lenders, and advisors can trust

Benefits by Service Tier

Platinum

• Formal Month end reconcilation is completed by or before the 10th of the following month. This is the formal process of comparing your bank and credit card statements to your QuickBooks registers to ensure they are in alignment.

• Each week day we will confirm that the bank feeds are in alignment with the registers in QuickBooks, which is what we call an 'informal' reconciliation.

• External: Daily reconciliations in the bank fees ensure your books stay perfectly matched to reality when comparing to live bank feed balances compared to your QuickBooks registers. Then, a FORMAL monthly reconciliation of your provided bank and credit card statements to confirm that the transactions cleared match your statements. Monthly reconciliations guarantee accuracy and prevent compounding errors over time.

• Internal: Confidence that your accounts are always verified and error-free.

Gold

• Formal Month end reconcilation is completed by or before the 15 th of the following month. This is the formal process of comparing your bank and credit card statements to your QuickBooks registers to ensure they are in alignment.

• Once a week we will confirm that the bank feeds are in alignment with the registers in QuickBooks, which is what we call an 'informal' reconciliation.

• External: Weekly reconciliations in the bank fees ensure your books stay perfectly matched to reality when comparing to live bank feed balances compared to your QuickBooks registers. Then, a FORMAL monthly reconciliation of your provided bank and credit card statements to confirm that the transactions cleared match your statements. Monthly reconciliations guarantee accuracy and prevent compounding errors over time.

• Internal: Reassurance knowing there are no missing transactions, duplicated entries, or unnoticed discrepancies.

Bronze

• Formal Month end reconcilation is completed by or before the 20th of the following month. This is the formal process of comparing your bank and credit card statements to your QuickBooks registers to ensure they are in alignment.

• Once a month, we will confirm that the bank feeds are in alignment with the registers in QuickBooks, which is what we call an 'informal' reconciliation. This happens as we are doing your month-end posting and review work.

• External: A FORMAL monthly reconciliation of your provided bank and credit card statements to confirm that the transactions cleared match your statements. Monthly reconciliations guarantee accuracy and prevent compounding errors over time.

• Internal: Reassurance knowing there are no missing transactions, duplicated entries, or unnoticed discrepancies.