Accounts Reconciliation Services ....

Account Reconciliation

Bank Account Reconciliation is the act of confirming that the account balance in one's checkbook matches the corresponding bank statement. Account Reconciliation services is crucial to ensure accurate and comprehensive financial reports, because it identifies errors and inconsistencies requiring correction by verifying the accuracy of each account. Our accounting professionals are well experienced in the field of Account Reconciliation and can perform the job in a professional manner saving your time and money.

Different types of account reconciliation

Full Reconciliation

You provide us with data on checks issued and our automated system matches this information against checks clearing your account. You receive a full reconciliation report, including checks paid, outstanding items and exceptions. Reports are available via email and FTP.

Partial Reconciliation

You receive a report of items paid that are sorted according to your instructions. We also provide a detailed summary of account activity and information on paid checks and stopped items.

Deposit Reconciliation

Rather than establishing individual accounts for each business location, you can use AO2I 's deposit reconciliation service to provide a detailed listing of deposits by location into a single checking account.

The scope of our Account Reconciliation Services includes:

• Reconcilement
• Check Deposit Sequencing
• Comprehensive reports in balance with your bank statement
• Flexible reconciliation periods
• Reconciliation reports in electronic files or paper
• Client-specific formats accepted for input data

Tips to effectively perform account reconciliation job

• Rationalize the number of accounts.
• Establish a standard definition of "reconciled" and use it across the company.
• Perform a separate reconciliation for each balance sheet account.
• Establish risk-based criteria for the timing of account reconciliations.
• Facilitate faster identification of errors through timely reconciliations.
• Use a standard account reconciliation form.
• Require that supporting documentation be attached to account reconciliation forms.
• Establish action plans for all reconciling items.
• Document approval for all account reconciliations.
• Report to management regularly on account reconciliation status.

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