25: Why You Need to Accurately Reconcile Bank and Credit Card Accounts If You Want to Scale

We know — reconciling bank and credit card accounts is probably the unsexiest topic we could have an episode on. But, account reconciliation is crucial if you want to scale your business, and so many business owners we see are getting it wrong. Truth be told: it’s preventing them from growing. Accurate numbers are essential for understanding your financial picture, and reconciling your bank and credit card accounts every month helps you do just that.Without proper reconciliation, you could be double-counting your expenses or excluding income — both of which can affect your profit margins and cause you to make decisions without the right information.  Tune into this episode to discover why monthly reconciliations are a must for financial accuracy and how they impact your business beyond tax season.We’re covering: 03:29 — Why your QuickBooks and bank balance need to match and how it can affect you if they don't06:47 — How to reconcile your credit cards and what to look out for when you have more than one card 08:03 — The biggest red flags we see with clients who have tried to reconcile accounts themselves12:08 — What larger or more complex companies need to reconcile regularly in addition to their bank and credit cards📈 UNDERSTANDING YOUR PROFIT AND LOSS GUIDEGet the Profit and Loss Guide ❓TAX PLANNING QUESTIONS TO ASK YOUR ACCOUNTANTGet the Tax Planning Questions Guide 🛍 75+ TAX WRITE OFFS Get the Tax Write Offs ✅ BOOKKEEPING CHECKLISTGet the Book Keeping Checklist 💵 BOOKKEEPING AND FINANCIAL ANALYSIS SERVICES FOR BUSINESS OWNERSApply for Bookkeeping or Financial Analysis Services 👋 CONNECT WITH SYDNEY & KRISTEN Website: https://knowyourworthpgh.com/Instagram: https://www.instagram.com/knowyourworth_pgh/ YouTube: https://www.youtube.com/channel/UC3wzOVSDSC-xsmLg8JJ8MJg/