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Bookkeeping is no laughing matter

I go online and get my bank balance every day, so I don’t need to do a reconciliation, right?

Banks make mistakes, most often not in your favor. Reconciling your bank account is critical to making sure you know how much cash you have. Oftentimes, people think reconciling is comparing check amounts on the statement to check amounts in their check register. While this is one step in the reconciliation process, it isn’t all of it. There’s much more to ensuring that balances at the bank and in the checkbook register agree at a specific point in time.