If you find that the accounting system and general ledger do not tie out to the ending balances of your bank credit card statements, then it is probably because:
- You have duplicative or erroneous transactions
- Non-cash transactions that are posted to a cash account
- You have outstanding payments to vendors that have not cleared
- Or someone is cooking your books
We don’t just reconcile the main checking account, but all accounts and all payment processing accounts in your ecosystem. We treat Stripe, Square, PayPal, and Bill.com, as a cash account and require those to be reconciled on a monthly basis. During the discovery period, we uncover all accounts used or closed that have never been reconciled. We require, during the month-end close reviews, to proof all reconciliation reports in order to review uncleared checks, undeposited funds, etc. that inflate or under-report cash.
“GrowthLab has provided invaluable tools and advice to Tizra’s management team, helping us scale smoothly and confidently.“Abe Dane, CEO at Tizra
“GrowthLab earns my highest praise for professionalism and affordability. I have hired them to improve our financial reporting... they were hands-on, patient, and able to move our organization... to an up-to-date and easy-to-use system.”Christine Earley, Ph.D. Board Member & Treasurer at NAMI
“…well-versed in all areas of finance, providing strategic guidance for early- stage start-up businesses… possesses a great work ethic, deep insights into financial analysis and modeling, and a collaborative approach to his work. An asset to any team.”Andy Levitt, Founder & CEO at Purple Carrot
“GrowthLab is a tremendous partner for FluidSense. Allowing our core team to focus on engagement and development, while GrowthLab focuses on the financial and bookkeeping aspects.”Jeff Poole , COO at Fluid Sense
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