Bank and Credit Card Account Reconciliations

Credit Card transactions are individually entered and coded for the P&L.

Payments to Credit Card are recorded for Balance Sheet.

Credit Card and Bank Statements are reconciled with statements monthly; however it is always advised to review banking daily to ensure any transaction is valid, approved.  There are fraudulent items that can go through and we want to stop it in its tracks!

Ensuring all deposits are recorded properly.   Some deposits are refunds, owner/member contribution and not income.