Credit Card Reconciliation Service by AFHBookkeeping

Welcome to AFHBookkeeping

Your trusted provider of credit card reconciliation services. We specialize in accurate credit card reconciliation using advanced software and templates, including QuickBooks, to streamline the process and ensure financial accuracy.

What is Credit Card Reconciliation?

Credit card reconciliation is the process of comparing and matching credit card statements with internal records to ensure accuracy and identify any discrepancies. It involves reconciling transactions, verifying amounts, and resolving any discrepancies to maintain reliable financial records.

How to Do Credit Card Reconciliation

Performing credit card reconciliation requires attention to detail and systematic steps. Here’s a general process for credit card reconciliation:

1. Gather Credit Card Statements: Collect the latest credit card statements for the period you want to reconcile.
2. Review Internal Records: Compare the credit card transactions recorded in your internal system, such as accounting software or spreadsheets, with the statements.
3. Match Transactions: Match each transaction on the credit card statement with the corresponding entry in your internal records.
4. Resolve Discrepancies: Investigate and resolve any discrepancies or differences found between the statements and your records. This may involve verifying transaction details, checking for missing or duplicate entries, or contacting the credit card provider for clarification.
5. Update Records: Once all discrepancies are resolved, update your internal records to reflect the accurate information from the credit card statements.
6. Document Reconciliation: Maintain a record of the reconciliation process, including any adjustments made, for future reference and audit purposes.
7. Regular Reconciliation: Perform credit card reconciliation on a regular basis, such as monthly or quarterly, to ensure ongoing accuracy of financial records.