So why do you need to completely reconcile? The bank’s always right — right? WRONG!!!
There was a business owner who decided to take up my offer of a complimentary “look-see”. In doing so, I noticed $100 being deducted from one of his/hers bank accounts to a credit card account, and building up month after month in the QuickBooks reconciliation page. Upon further investigation, although the bank was consistently deducting the $100, it was never being credited to the credit card – or any of the credit cards. When speaking to the bank they had no answer. It is being investigated now. The total amount being deducted – – – not one month, not two months, but TEN months. That’s $1000, not counting the finance charges if carrying a balance.
Having a professional look at your books at least once a year is always a good thing. You’ll never know what goodies might be found.