Accounts Reconciliation Services

Let our experts take care of your accounts reconciliation

Accounts reconciliations ensure accuracy of financial reports and prevents legal and fraudulent issues allowing you to focus more in growing your business. This process requires high level of expertise and is time consuming, hence, it would be cost effective to outsource the service and focus more on your core activities. INTANGIBLES offers top-tier Accounts Reconciliation services, helping you uncover any discrepancies, produce error-free reports and be external audit ready.

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Common Accounts Reconciliations

Bank Statements Reconciliations

This involves matching and reconciling bank statements against the ledger statements. Monthly bank reconciliation does not only improve cash controls, this also helps detect any unauthorized transactions.

Credit Card Payments Reconciliations

This service refers to credit card payments related to their sales transactions, which may involve other ledger accounts, such as revenue and cash-in-bank.

Debtor & Creditors Reconciliations

The reconciliation will ensure accuracy of the accounts receivables and payables ending balances when closing the books. Coupled with analysis, this could help improve manage cash flows, collections and credit days cycles, maximizing your working capital.

Inter-Company Reconciliations

This covers transactions between parent, branches and related parties. The reconciliation would allow proper recognition of transactions and avoid any inconsistencies on your financial reports.

Prepayments Reconciliations

Advance payments made by the company are initially recorded as part of the balance sheet, the amortization goes to the income statement. This include advance payments for rents, insurance, utility bills, taxes, etc. As per GAAP, accrual accounting recognizes expenses when they are incurred, regardless of when they are paid.

Accounts reconciliation process follows a set of accounting standards and principles. This is the verification process in accounting, comparing sets of records ensuring figures match and in agreement. This further reconfirms consistency, accuracy and completeness of your accounting records.

Bankers evaluate credit worthiness based on your balance sheet figures. Hence, it is necessary to ensure accuracy of your financial reports. Most often, reconciliation of accounts is performed as part of the monthly closing of books.