Found that missing $3,200 yet?

Happy Saturday you all! Hope the week went well! Bookkeeping time…

Every business needs bookkeeping, but simply recording transactions isn’t enough. The real strength of bookkeeping comes from reconciliation which is the process of comparing your internal records to your bank and credit card statements to confirm accuracy. It sounds simple, but skipping this step can leave gaps that damage cash flow, credibility, and even growth potential.

Also, come tax time you will be STRESSED!

Many small businesses and veteran-owned companies run lean, which means every dollar counts..totally get it. Reconciling monthly ensures you know exactly where your money stands, instead of relying on estimates or assumptions. When your books and your bank don’t line up, you’re working off faulty information and that can cause poor decisions at the worst possible time.

I hear it a lot…we’ll just do this in house, my wife/husband will handle the bookkeeping, we don’t see value in managing our books, etc….

Here’s why monthly reconciliations should be non-negotiable and a cost you incorporate into next year’s budget/plan:

• Catching Mistakes Before They Multiply
  Errors happen. Maybe a vendor invoice was entered twice, a customer payment was missed, or the bank posted a transaction incorrectly. Reconciling monthly brings these mistakes to light while they’re still easy to fix. Wait six months, and you’ll waste time unraveling a mess. Been there and done that a few times through Guernsey Consulting!

• Protecting Against Fraud and Unauthorized Charges
  Fraud doesn’t always show up as a huge, obvious withdrawal. Often, it’s small charges that fly under the radar. Reconciling regularly means spotting issues quickly and addressing them before they become major losses. You’ll catch those odd trends earlier.

• Understanding True Cash Flow
  Reconciling gives you a real-time picture of available cash. Without it, your books may show money you don’t actually have, leading to overspending or missed obligations. In today’s tight business environment, false confidence in your cash position can cripple operations. I tie cash out daily for reference.

• Building Trust with Stakeholders
  Whether it’s a lender, investor, or tax authority, no one wants to see sloppy books. Regular reconciliations ensure your financials are reliable and consistent, which builds confidence with anyone who reviews them.

• Reducing Year-End Stress
  Businesses that avoid reconciliations spend tax season digging through months of unreconciled accounts. By reconciling each month, your books are already balanced, saving you time, stress, and potential penalties.

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Monthly reconciliations aren’t just about compliance they’re about control. Clean books mean you can make decisions confidently, plan for growth, and avoid preventable setbacks. Think of it as a monthly health check for your business: quick, routine, and essential for long-term stability.

If you want a simple action step, schedule time on your calendar at the end of every month to reconcile all accounts — bank, credit cards, loans, and even petty cash. Treat it as seriously as payroll or paying bills. That discipline alone can transform the way you manage your finances.

For small and veteran-owned businesses, this habit isn’t optional. It’s the foundation that allows you to scale, secure funding, and move forward with clarity. Strong bookkeeping and monthly reconciliations are how you stay in control of your money instead of letting it control you.

Need help? Call me and let’s get things rolling the right way!

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NEW FOR 2025!

I have a high focus helping other vets out there and want you all to succeed, so I created this Skool group below called the Profit Platoon. Would love to have you there!

Contact me if you’d like to network or partner together. I’d love to chat with you more about the services I offer on the side through Guernsey Consulting. If you do not know, I work full time in Treasury Management and do consulting on the side. Would love to chat or network with you about it.

Some of those services are listed below that we can help you with!