Reconciliation & Controls
Make the records agree before the filing is due.
A discrepancy between the bank account, accounting records, and compliance records is rarely just a reporting problem.
It is usually evidence that something earlier in the financial process needs attention.
Reconciliation
Ferrenhall's approach seeks to identify differences between financial systems and resolve them before they become larger reporting problems.
Controls
Clear responsibilities, documentation requirements, review procedures, and exception handling reduce avoidable errors and make financial activity easier to understand later.
A strong fit when
- Bank, accounting, and compliance balances do not agree
- Old reconciling items keep rolling forward
- A staff or vendor transition exposed gaps in the records
When financial records agree, reporting becomes verification rather than reconstruction.
Have a reconciliation issue?
Start with the underlying records, not the reporting deadline.
Discuss a Reconciliation Issue