1. Inaccurate data: Errors in financial records and reports.
2. Cash flow problems: Difficulty tracking funds, risking overdrafts or missed payments.
3. Missed fraud: Delayed detection of fraud or errors.
4. Tax issues: Risk of audits and penalties due to incomplete records.
5. Incorrect balances: Misleading account totals.
6. Disputes: Payment mistakes leading to vendor/customer conflicts.
7. Compliance risks: Non-compliance with regulations.
8. Higher costs: Costlier error resolution.
Regular reconciliation helps avoid these risks and ensures financial accuracy.
Are yours accounts up to date? Have you let it get away from you?
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