Account reconciliation is the process of comparing two sets of financial records — typically your internal ledger against an external statement such as a bank statement, vendor statement, or sub-ledger — to verify they agree and to investigate any differences. It matters because unreconciled accounts hide errors, fraud, and mis-postings that distort your financial statements, expose you to audit risk, and cause your CPA to spend expensive billable time fixing problems that should not exist.

Bank and credit card accounts should be reconciled monthly without exception — the longer the gap, the harder it becomes to trace discrepancies and the more errors compound. General ledger, AR, and AP reconciliation should also be completed monthly before month-end close. Intercompany reconciliation depends on transaction volume — monthly for active intercompany activity and quarterly for low-activity related parties. Payroll reconciliation should be performed every payroll cycle.

Bank reconciliation compares your internal cash records with your bank statement to confirm both balances match and to identify outstanding items such as uncleared cheques or deposits in transit. General ledger reconciliation is broader — it verifies every balance sheet account against supporting documentation, such as bank statements, sub-ledgers, loan schedules, or fixed asset registers. Bank reconciliation is one type of general ledger reconciliation focused specifically on cash.

We handle backlog reconciliation as part of onboarding. After reviewing your current state, we provide a clear scope to resolve any outstanding unreconciled periods. This is typically priced as a one-time catch-up fee based on the number of months and accounts involved. Most backlogs covering up to 12 months are cleared within two to three weeks. We begin ongoing monthly reconciliation only after confirming that historical data is accurate.

Yes. We work directly within QuickBooks Online, Xero, NetSuite, Zoho Books, Sage, and other major cloud accounting platforms. No software migration is required. We connect through your existing bank feeds and perform all reconciliation work within your current system, ensuring you retain full ownership and access to your financial data at all times.

Bookkeeping is the process of recording financial transactions, while reconciliation is the verification process that ensures those records are accurate by comparing them with independent sources. You can have up-to-date bookkeeping that still contains errors — reconciliation is what identifies and corrects those issues. The two functions are complementary: bookkeeping creates the records, and reconciliation validates them. Our reconciliation service can be integrated with bookkeeping or provided as a standalone service.