Hey Guys Just Wanna Why is It Important for a Business to Prepare a Monthly Bank Reconciliation Statement?

It is important to do this so you can see what actually went through the bank account. What went in and what went out. It gives you an actual number for the amount of cash and will show any outstanding cheques that have not been cashed. The outstanding ones you know are going to be cashed so you can actually see that the amount of cash is not all yours and therefore you can't spend it all (or give yourself a bonus). This will also show if there are any long term outstanding cheques that have not been cashed yet and this may mean a problem for which you can be proactive and take care of it.

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