Visma Net
Reconcile cash accounts - overview
One way to maintain internal control over the company cash is by performing regular
account reconciliations.
Generally, the goal of reconciliation is to find discrepancies between
account balances tracked by different means (in your company and by a third party), locate any
errors, and make needed corrections or adjustments.
Reconciliation is performed primarily for cash accounts that represent bank accounts.
Also,
the balances of petty cash accounts can be reconciled with available documents, cash register
receipts, or point-of-sale reports.
Sometimes a balance of accounts receivables can be
reconciled with the records kept in a particular customer's system.
Reconciliation is usually done at the end of each period or more frequently.
Regular
reconciliations can reduce the number of errors on accounts and make it easier to find
overlooked transactions, such as missing sales invoices that have been lost in
transit.
Visma Net offers you capabilities that help you evaluate more precisely the available balances of cash accounts between reconciliations and perform reconciliations of cash accounts more quickly and effectively.
This chapter will guide you through the reconciliation process facilitated by Visma Net for cash accounts.
