I would like to reconcile my bank account daily? What are the downsides?
Answer
reconciling bank accounts daily
Best answer by Laura03
Hello,
I think the only downside to reconciling bank accounts daily, is having to reconcile bank accounts daily. 😉
The reconciliation process is exactly the same whether monthly or weekly or daily, frequency being the only variable in your question. Understandably, the volume of transactions to reconcile decreases as reconciliation frequency increases.
Please provide more details about your situation, and maybe the Community will offer more detailed opinions. Thank you, and good luck!
+19Hello,
I think the only downside to reconciling bank accounts daily, is having to reconcile bank accounts daily. 😉
The reconciliation process is exactly the same whether monthly or weekly or daily, frequency being the only variable in your question. Understandably, the volume of transactions to reconcile decreases as reconciliation frequency increases.
Please provide more details about your situation, and maybe the Community will offer more detailed opinions. Thank you, and good luck!
~ Laura Barber, WM Synergy
+17Hi
As
If you have only a few, it may not be as time efficient.
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