The process of balancing all the cash-based transactions corresponding to a particular company is called bank reconciliation.
How reconcile of bank data is useful?
There are many advantages to bank data reconciliation. The process of bank data reconcile from OnlineCheckWriter helps identify the interest accrued and gives a clear idea regarding the account balance status. There will be chances that you may have stopped a check payment in some cases, and a nominal fee will be incurred for this particular function. A complete bank reconciliation method will help to manage all these activities rapidly.
There may be other instances that the employees may manipulate the account ledger, which is not easy to identify in normal cases. Reconcile bank data helps in identifying all these sorts of fraud activities as well.