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Tax prep question
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Posted 3/26/2020 12:47 (#8140432 - in reply to #8140287)
Subject: RE: Tax prep question

Don't call it a 'gator, it's a Ranger
I used to quote 750 for a corporate return, assuming 1 and 2 were tight. I soon found that "bank reconciliation" is a foreign term to most............and getting the two to agree could easily take 3-5 hours.........300---500.

Although many (maybe most) don't reconcile their personal bank statement I always do. I would think this would be an automatic task for a bookkeeper for a business.

I was Treasurer for a local organization and performed a bank reconciliation each month. I retired from the position but took it back after a year since no one else would do it. When I got the briefcase back from the in between Treasurer I noticed all the bank statements were there but unopened. It was pretty obvious that he didn't reconcile. There was no indication of wrongdoing but I just assumed a Treasurer of an organization would reconcile even if they didn't reconcile their own personal account.

The Gal I hang around with laughs at me for reconciling my account often the very day the statements come out online. She used to work as a teller in a bank. She asks "don't you trust them?" My answer is that I trust them but mistakes may creep in.

Edited by tedbear 3/26/2020 15:24
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