At ARC Accountants, we handle the reconciliation of our clients’ accounts whether it is a bank reconciliation, customers’ ledger reconciliation, suppliers’ ledger reconciliation, or intercompany reconciliation. We also provide accounts reconciliation services to small and medium-sized companies, corporations, MNCs, etc. This helps the organizations eliminate legal issues, maintain the confidentiality of the critical data, and reduce the chances of fraud and corruption.
Our accounts reconciliation services include the following:
The timely reconciliation of bank accounts is very vital to ensure enough balance of funds and proper control within the company. If a company has a huge number of transactions (online transactions, too many cash/cheque deposits and withdrawals, etc.) the task will be time-consuming for the accounts department within the company. In such cases outsourcing their bank reconciliation service will be fitting for them.
When the number of transactions is huge and options services like discounts, rebates, returns, etc. also require reconciliation, the task becomes more difficult.
Just like a supplier’s ledger reconciliation, customer ledger reconciliation can also become complicated if the number of transactions is more and additional considerations such as discounts, rebates, returns, etc. are involved in the contract.
Intercompany reconciliations can also become a tedious task for accountants when finalizing books of account. Discrepancies between accounts can arise due to the non-availability of accountants /dedicated accounts personnel, improper coordination between related parties, exchange rate fluctuation, delay in transportation, etc.