Reconciliations
Friday,21st September, 2018. 4:31:17am

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Reconciliations

Reconciliation is an accounting processes whereby figures in the final account are agreed and confirmed correctly posted. In the reconciliation processes, the entries are made to agree and both the Debtor and the Creditor are in agreement as to the balance due or owing as at the end of a financial year.

Where proper books of accounts are not maintained, there is the possibility that the accounting reports will not be properly prepared due to wrong entries and wrong postings thereby requiring reconciliations.

Olajide and Associates has in the past carry out reconciliation of accounts for varieties of clients ranging from small businesses to large multinational corporations. The type of reconciliation of accounts ranges from:-

1. AGREEMENT OF YEAR END TRIAL BALANCE

2. DEBTOR AND CREDITOR BALANCE RECONC

3. BANK ACCOUNT RECONCILIATION

4. INTER COMPANY ACCOUNT RECONS

5. FOREIGN EXCHANGE ACCOUNT RECONS

6. BALANCE OF PAYMENT RECONS

7. STOCK MOVEMENT RECONS

8. BUDGET RECONCILIATION REPORTING etc

Membership

OLAJIDE AND ASSOCIATES is a member of BNI and a registered member of The Institute of Chartered Accountants of Nigeria and Chartered Institute Of Taxation Of Nigeria

 

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