Insider Discussion – Accurate Reconciliations Are Vital!
Accurate Account Reconciliation Is a Must For Every Business
Accurate reconciliations are essential to trustworthy financial reporting. This article breaks down why regularly reconciling bank and credit card accounts prevents errors, uncovers discrepancies early, and ensures your books reflect reality—giving business owners confidence in their numbers and peace of mind year-round.
The Importance of Accurate Reconciliations
Reconciliations are one of the most overlooked—and most critical—components of sound financial management. When done correctly, they ensure your books reflect reality. When ignored, they quietly create costly problems.
What Is a Reconciliation?
A reconciliation compares your internal records (like QuickBooks) to external statements such as:
- Bank accounts
- Credit cards
- Loan balances
The goal is simple: everything should match.
Why Reconciliations Matter
Accurate reconciliations help:
- Catch errors before they snowball
- Detect fraud or unauthorized transactions
- Prevent overstated income or expenses
- Ensure reliable financial statements
Without reconciliations, reports may look fine on the surface—but be fundamentally wrong.
Common Issues We See
Unreconciled accounts often lead to:
- Duplicate or missing transactions
- Incorrect cash balances
- Misleading profit figures
- Stress during tax preparation
These issues are far easier to fix monthly than years later.
How United Accounting Solutions Helps
We prioritize consistent, timely reconciliations as part of our core process. This ensures:
- Your books are always audit-ready
- Your financial statements are dependable
- You can make decisions with confidence
Accurate reconciliations aren’t just good bookkeeping—they’re the foundation of financial clarity.
I hope you found this information helpful. If you have questions about your finances or would like guidance tailored to your situation, I’d be happy to talk. With years of experience helping individuals and businesses gain clarity and confidence in their numbers, my goal is to help you make informed decisions and move forward with confidence. Feel free to call me anytime at 260-579-1516 or email me at mike@unitedaccountingsolutions.com.
Michael J Archbold
Accountant
United Accounting Solutions
10214 Chestnut Plaza Dr
PMB 416
Fort Wayne, IN 46814
c. 260-579-1516
e. Mike@UnitedAccountingSolutions.com
w. www.UnitedAccountingSolutiions.com
Know someone who could use clarity and confidence in their finances? I’m NEVER too busy for your referrals.
United Accounting Solutions – Insider Discussion – Accurate Reconciliations Are Vital! …
… brought to you by Michael Archbold and United Accounting Solutions.
The consummate professional, Michael Archbold brings a diversified background to the world of accounting. Born and raised in Fort Wayne, IN, Mike received bachelors degrees in Accounting in 1997 from the Indiana University Kelley School of Business and Information Technology in 2005 from Indiana Wesleyan University. Mike has more than 25 years of experience in accounting and real estate investing/sales.