Jun 29, 2021
There’s also the very serious issue of compliance. If your cash accounts don’t match with your bank accounts, it could count as a breach of compliance come tax time, leading to a lot of hassle and panic. Because of this, it’s advisable to have a bank reconciliation at least every month. Ideally, you would have a constant bank reconciliation process, but doing this manually would be more of an accounting nightmare than most companies are capable of handling!
