Bank Reconciliations are a necessary part of any business that needs to keep track of its finances. The process involves regularly matching the transactions on your bank statement with the records in your general ledger, looking out for discrepancies or errors. It’s important to ensure that all your transactions have been accurately recorded, so that you can be confident about the financial state of your company. Bank Reconciliations also provide an opportunity to identify and address any miscommunication between parties, or fraudulent activity that could lead to monetary losses. By reconciling your books regularly and promptly, you are making sure that your business is financially sound – now and into the future.