Bank reconciliation and transaction categorisation are the bedrock of sound accounting, yet they are among the most frequent problem areas for online stores and SMEs. Discrepancies between books and bank statements not only distort financial reports but can also trigger HMRC audits. This service is solely dedicated to systematically reconciling your bank accounts, payment gateways, and credit cards, and accurately categorising every transaction. We target \u201czero errors\u201d and provide a clean, solid accounting foundation for tax filing, auditing, and management analysis.<\/p>\n
Multi\u2011account Full Reconciliation \u2013 We import all transactions from your business bank accounts (current, savings, corporate credit cards) and all digital payment channels (PayPal, Stripe, Amazon Payments) into the accounting system and perform full reconciliations. This includes: verifying that each bank entry matches your recorded income\/expenditure; identifying and investigating outstanding items (e.g. bank\u2011recorded but not book\u2011recorded, or vice versa); tracking platform settlement reports against actual bank credits (with special attention to settlement delays, FX gains\/losses, and platform fees). We provide a monthly bank reconciliation statement clearly listing all adjustments and follow\u2011up items.<\/p>\n
Precise Transaction Classification and Coding \u2013 We code every transaction to the correct accounting category in line with UK GAAP and HMRC\u2011approved classifications. Dimensions include: revenue (by product, service, channel), direct costs (purchases, production, shipping), operating expenses (rent, utilities, insurance, subscriptions), staff costs (wages, pensions, training), finance costs (bank fees, interest), and non\u2011recurring items (asset purchases, loan repayments, equity movements). We also flag transactions with recoverable input VAT and record the applicable VAT rate and reclaim eligibility.<\/p>\n
Historical Ledger Clean\u2011up and Error Correction \u2013 If your past months\u2019 accounts have unresolved items, misclassifications, or missing transactions, we offer a \u201cclean\u2011up\u201d service. Our senior accountants trace every historical transaction, correct errors, add missing supporting documents, and regenerate adjusted financial statements. We are particularly skilled at untangling \u201cmixed accounts\u201d \u2013 where business and personal funds are intermingled \u2013 to ensure the company\u2019s accounts clearly reflect its own financial performance.<\/p>\n
Exception Transaction Monitoring and Reporting \u2013 During reconciliation, we proactively identify and flag unusual or suspicious items: unauthorised large payments, duplicate charges, unexpected fees, refunds not received, bank system adjustments, etc. We notify you within 3 working days and work with you to verify, and if necessary, assist in filing disputes with the bank. This monitoring effectively serves as an internal \u201cfinancial risk control\u201d mechanism, helping you detect and prevent fraud or errors early.<\/p>\n
Month\u2011End Close Support \u2013 At each month\u2011end, we assist with the full closing process: ensuring all transactions are reconciled and coded, all bank balances are adjusted, all accruals and prepayments are posted, and all depreciation\/amortisation is booked. We provide a \u201cClose Checklist\u201d summarising all completed work and final balances, offering a clear audit trail for your records.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bank reconciliation and transaction categorisation are the bedrock of sound accounting, yet they are among the most frequent problem areas for online stores and SMEs. Discrepancies between books and bank statements not only distort financial reports but can also trigger HMRC audits. This service is solely dedicated to systematically reconciling your bank accounts, payment gateways, […]<\/p>\n","protected":false},"featured_media":18745,"comment_status":"closed","ping_status":"closed","template":"","meta":[],"product_brand":[],"product_cat":[191],"product_tag":[],"class_list":["post-18766","product","type-product","status-publish","has-post-thumbnail","product_cat-consulting-services","first","instock","shipping-taxable","product-type-simple"],"_links":{"self":[{"href":"https:\/\/aybnfinance.co.uk\/index.php?rest_route=\/wp\/v2\/product\/18766","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/aybnfinance.co.uk\/index.php?rest_route=\/wp\/v2\/product"}],"about":[{"href":"https:\/\/aybnfinance.co.uk\/index.php?rest_route=\/wp\/v2\/types\/product"}],"replies":[{"embeddable":true,"href":"https:\/\/aybnfinance.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=18766"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/aybnfinance.co.uk\/index.php?rest_route=\/wp\/v2\/media\/18745"}],"wp:attachment":[{"href":"https:\/\/aybnfinance.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=18766"}],"wp:term":[{"taxonomy":"product_brand","embeddable":true,"href":"https:\/\/aybnfinance.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fproduct_brand&post=18766"},{"taxonomy":"product_cat","embeddable":true,"href":"https:\/\/aybnfinance.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fproduct_cat&post=18766"},{"taxonomy":"product_tag","embeddable":true,"href":"https:\/\/aybnfinance.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fproduct_tag&post=18766"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}