The Commingling Trap
Mixing personal and business money is called commingling.
It may seem harmless at first. You buy groceries with the business debit card. You pay for business software with your personal credit card. You transfer money back and forth without notes.
But this creates two big problems.
First, it can weaken the legal…
What is Reconciliation?
Bank reconciliation simply means matching your business bank statement against the records in your accounting software.
The goal is simple: your bank balance and your software balance should match exactly, down to the penny. If they do not match, something is missing, duplicated, or entered incorrectly.
Step 1: Gather Your Documents
Start…