Control Account Reconciliations Services and Reconciliation Accounting
CapActix provides cost-effective reconciliation services to businesses. Commercial organizations have many control account reconciliations to handle with a complete transparency. There are many designations in between the different vertices and control accounts. Well, the businesses do come across the main four phases of reconciliation accounting. These four control accounts are to be reconciled for avoiding fraud and alleged misappropriation of funds. Following are the four control account reconciliations to consider:
- Creditors Provide Inventory (Creditors to Inventory)
- Inventory is sold to Debtors (Inventory to Debtors)
- Debtors make payments against sales (Debtors to Cash & Bank)
- Cash and Bank is used to pay Creditors against purchases (Cash & Bank to Creditors)
The businesses undergo the continuous cycle of creditors to cash and bank with various demands. CapActix manages to keep a balance between reconciliation accounting, its essentials, and businesses.