You’re in business and things are good, then comes tax reporting time and your stress level goes through the roof! But it doesn’t have to be that way. You can have success with peace of mind. It’s all about record keeping.
Keeping good records that are accurate and complete is easy once you decide to stay focused. If you are just starting your business, becoming informed, setting up good procedures and making this a habit from day one is simply a matter of including it in your daily To-Do list. If you have been around a while, you may need an extra reminder.
BusinessDictionary.com defines bank reconciliation as: