Page 70 - Keeping Records for Individuals - Handbook

Business Checkbook

Bank
Account

Reconciliation

Reconciling checking
Business Account account

One of the first things you should do when you When you receive your bank statement, make sure the
start a business is open a business checking statement, your checkbook, and your books agree. The
account. You should keep your business statement balance may not agree with the balance in
account separate from your personal checking your checkbook and books if the statement:
account.
• Includes bank charges you did not enter in your
books and subtract from your checkbook balance,
or
• Does not include deposits made after the
statement date or checks that did not clear your
https://lentcpa.com account before the statement date..