What is the most effective reconciliation process?

  • 6 August 2021
  • 2 replies

Userlevel 4
Badge +5

What is the most effective reconciliation process weekly or monthly basis and why? Is it easier in Karbon to track weekly or monthly?

2 replies

Userlevel 5
Badge +5

For reconciliations, it's really personal preference or client preference. If your firm decides on weekly work, it's a good idea to adjust the creation of work and tasks so that the creation of work is less than the default 3 months and the task are created less than the default 2 weeks. The task creation is important because each work item is created from the previous work vs. the template so you will likely want to create the tasks 1 week prior or 1 day prior.

For high performing bookkeeping firms, they find weekly reconciliation is better because it enables quick resolution on AR and AP related questions with the client. The time taken to serve weekly provides higher perceived value and typically takes less time since there is less chasing of clients (and details) at the end of the month.

Userlevel 4
Badge +5

@jens Thank you so much for your response.  Makes a lot of sense.