Bank and credit card reconciliation, every account, every month
SF Business Solutions reconciles every bank, credit card and loan account to its statement each month, so the balance in QuickBooks Online or Xero matches the bank to the cent.
We also match Stripe, Square and PayPal payouts to deposits and reconcile balances between related companies.
What reconciliation is and why it matters
A reconciliation proves that the books agree with the bank. Every transaction on the statement is matched to one in the books, and anything left over is explained: a check not yet cashed, a deposit in transit, or an error to fix.
Unreconciled books are where most bookkeeping problems hide. Duplicate transactions, missing expenses and personal charges all show up the first time someone reconciles.
Banks, credit cards and loans
We reconcile each bank and credit card account when its monthly statement closes, and tie loan and line-of-credit balances to the lender's statement, splitting payments into principal and interest. Anything we can't match goes on a short list for you, instead of being guessed at.
Merchant and payment app payouts
Stripe, Square, PayPal and Shopify deposit your sales after taking fees and refunds, often combining several days into one payout. If deposits are recorded as sales, revenue is understated and fees disappear. We record gross sales, fees and refunds separately and match each payout to the deposit it produced.
Several companies
When one company pays another's bills or lends it money, both books need to show the same balance: a receivable in one, a payable in the other. We reconcile these intercompany balances every month so they don't drift apart and turn into a year-end surprise.
How to start
Three steps. The first one is free.
- 1
Book a free consult
A 1-hour call about your books, your software and what you need.
- 2
Give us access
Invite us to QuickBooks Online or Xero and share your bank and card statements.
- 3
We take it from there
Cleanup first if you are behind. Then we close each month between the 5th and 15th of the following month, depending on your documents.
Great to work with! Always available & gets things done quickly. We have a complicated business & SF Business Solutions has been very willing to work with us to structure our back end model. 10/10 recommend!
What is a bank reconciliation?
Matching every transaction on your bank statement to the books and explaining any difference, so the book balance equals the bank balance.
How often should accounts be reconciled?
Every month, as soon as each statement closes. Waiting longer makes errors harder to trace.
Why don't my Stripe deposits match my sales?
Stripe pays out sales minus fees and refunds, often several days at once. Each payout has to be split back into sales, fees and refunds.
Can you reconcile our business credit cards too?
Yes. Every card is reconciled to its statement each month, alongside the bank accounts.
Can you reconcile balances between my companies?
Yes. We match what each company owes the others every month, so both sets of books agree.
Related
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