016 - Bank Reconciliations: The What, When, & Why

The 2 Cents Business Podcast

Bank reconciliations aren’t just for bookkeeping and accounting professionals.

They aren’t some useless report that we like to do for the heck of it…

This is a report that can actually save you for losing money… so I bet you’re wondering…

What the heck are bank reconciliations? And why do you need to do them? (yes, NEED)... and since you NEED to do them, when should you do them…

Mentioned in this episode:

• Answers to all those questions
  
• briefly touch on for how you can get it done
  
• with the help of accounting software (if you’re already using it).
  

Additional resources:

• Software recommendation: Xero (affiliate link)
  
• Product recommendation: Money Metrics Tracker Bundle
  
• Checklist recommendation: Money Matters Checklist
  

Highlights of this episode:

• 01:22 What is a bank reconciliation? (or a credit card reconciliation)
  
• 02:39 Why you want to do your bank reconciliations
  
• 03:32 When you should be doing your bank reconciliations
  
• 05:06 What you should get from your reconciliation report and what various parts of it means
  
• 05:55 Recap of the what, why and when of bank recs
  

RESOURCES

Kill The Vanity Metrics Challenge

Money Matters Checklist

Resources List

WORK WITH COMMON CENTS

Virtual Accounting, Bookkeeping & CFO Services

Courses & Programs

Templates

Planners & Printables

Thanks for listening. Don’t miss an episode - subscribe on: Anchor, iTunes, Spotify, Stitcher

Want to chat and hangout with me, Joyce? You can find me on Facebook, Instagram or Twitter…as @thecommoncents.

You can find all the links and additional show notes at: https://www.thecommoncents.com/podcast