And if all payments in the ledger match with those on the statement then the ledger could be considered accurate. To put it simply, accountants will compare the credit card statements of the company against the general ledger.
One common task that your finance teams have to handle every month even if they don’t like it is reconciling credit cards.Ĭredit card reconciliation is the system that accountants would use to make sure all the transactions in a credit card statement will match those on the book of the company. Therefore, good accounting is not only a crucial factor for a growing business but it’s also a legal requirement that any business should know and follow carefully. Reconcile Credit Cards in QuickBooks What is credit card reconciliation?Įvery successful company needs a clean book to survive and thrive in the long term.
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