Striking a Balance: Monthly Reconciliations and Profit and Loss Analysis
In the world of business accounting, two critical practices stand out for ensuring clarity, accuracy, and long-term financial health: monthly balance sheet reconciliations and profit and loss (P&L) comparisons. We’re looking to answer a few questions: are your assets and liabilities accurate and complete? are your income and expenses accurate and complete? are you consistent and correct with your bookkeeping? what can you do with this knowledge to improve your… Read more