A bank reconciliation is an important part of the daily accounting function for any business. In essence it is a matching process whereby you link the receipt of funds into your bank account with a sales invoice or payment of funds with a purchase.
It is being reported that HSBC, NatWest and Lloyds Banking Group have temporarily suspended opening new small business accounts as fears around the legitimacy of these new businesses grow. Recent industry data showed that up to 55% of applications were potentially fraudulent with suggestions that just 15% of those applying ended up opening a current […]