Most people do not consider reconciliation the favorite part of their job. It can be time-consuming and frustrating. However, it’s an important part of accounting in any organization. How can you make reconciliation easier on yourself?
1. Locate discrepancies first. This is an incredibly important step which is indispensable if you want any chance at quick reconciliation. If you don’t already start by finding discrepancies, consider updating your process.
2. Reconcile Regularly. Whether you love reconciling or would rather do anything else, life has a tendency to get busy. It is easy to let reconciliation fall to the wayside. Unfortunately, the longer you go between reconciliations, the more work you have to do next time. Stick to a strict schedule to break up the work into manageable chunks.
3. Don’t be afraid to take a break. If you are frustrated, it is okay to walk away. Sometimes forcing yourself to work on projects even though you could rip your hair out is detrimental to your progress. Walk around the office, get a drink, step outside, and then go back to the task at hand.
4. Use a system that works. Look around for ways to optimize your process. You do not need to look for a big change, but find something that works better for you. If you have a user-friendly system, you will be surprised how much easier reconciliation becomes.
We hope these quick tips help how you approach reconciliation. If you are looking for a better system, try visiting www.RevTrak.com. We have an online payment solution designed specifically to help school districts. With a RevTrak® Web Store, you can reconcile in ten minutes or less. It provides a user-friendly and quick solution. Contact us for more information.