1. Bank Reconciliation:
What I Did: Conducted monthly bank reconciliations to ensure all transactions matched, identified discrepancies, and resolved issues promptly.
Benefit to Entrepreneurs: This practice helps entrepreneurs maintain accurate financial records, avoid potential cash flow problems, and gain a clearer understanding of their financial position.
2. Account Reconciliation:
What I Did: Regularly reconciled accounts payable and receivable to verify accuracy and ensure timely payments and collections.
Benefit to Entrepreneurs: By ensuring that accounts are balanced, entrepreneurs can better manage cash flow and reduce the risk of outstanding invoices or unpaid bills affecting their operations.
3. Intercompany Reconciliation:
What I Did: Managed intercompany transactions and reconciled accounts between subsidiaries, ensuring compliance with accounting standards and accurate financial reporting.
Benefit to Entrepreneurs: This ensures transparent and accurate financial reporting across all business units, which is crucial for strategic decision-making and maintaining investor confidence.
4. Financial Statement Reconciliation:
What I Did: Reconciled financial statements with underlying data to ensure accuracy in reporting, identifying any anomalies for further investigation.
Benefit to Entrepreneurs: Accurate financial statements provide entrepreneurs with reliable insights into their business performance, helping them make informed decisions and attract potential investors.
5. Audit Preparation:
What I Did: Prepared documentation for external audits by reconciling accounts and ensuring all financial records were up to date and compliant.
Benefit to Entrepreneurs: Having organized and reconciled financial records simplifies the audit process, reduces the likelihood of errors, and builds credibility with stakeholders.
