Accounts Reconciliation Process
Accounts reconciliation is the process of verifying an organization’s financial records and transactions in order to detect discrepancies, if any and to reconcile the same.
Since accounts reconciliation services is an activity that requires painstaking effort and an eye for detail, it is best outsourced. If accounting reconciliation is not your core competency, why not consider outsourcing account reconciliation services to a financial expert like Nestor Consulting.
Nestor Consulting aims to provide professional account reconciliation services for small and medium enterprises, corporate houses and large organizations including MNCs. Our expert can help prevent fraud, avoid legal issues and help you focus better on your core area of business goals.
Depending on the size of the clients, we provide different kind of accounts reconciliation services to our clients:
1. Full Accounts Reconciliation Service
Nestor Consulting provides full accounts reconciliation services to its clients. In this process, Nestor Consulting takes care of client’s entire financial reconciliation needs. The clients provide us full data with checks. Then our experts use that data with checks and find deficiency if any. After this process, client gets full reconciliation report.
2. Partial Accounts Reconciliation Service
In the partial accounts reconciliation services, Nestor Consulting provide reconciliation services to the extent of items requested by the client. The clients provide us particular item data with checks. Then our experts use that data with checks and find deficiency if any. After this process, client gets reconciliation report.
3. Bank Records or credit card statement Reconciliation Service
In this reconciliation service, Nestor Consulting provides reconciliation of bank statement with books or credit card records with statements. The clients provide us date with bank statement or credit card statement and then our experts find the discrepancy if any. After this process, client gets reconciliation report.
4. Reconciliation of invoices with ledger & journal entries
In this reconciliation service, Nestor Consulting provides reconciliation of invoices with ledger and journal entries. The client provides us data with all the invoices. We then use that data and reconcile every invoice with the data. After this process, client gets reconciliation report.
5. Deposits Reconciliation Service
Deposit reconciliation service is reconciliation of all the deposit with bank records. The clients provide data and bank records. We then use that data and check all the deposit from the bank records. After this, client gets reconciliation reports.
6. Payable Reconciliation Service
Payable reconciliation service is reconciliation of all the payment with bank records. The clients provide data and bank records. We then use that data and check all the payable from the bank records. After this, client gets reconciliation reports.