Articles and updates on bank statement conversion, reconciliation and automation.
How far back Medicaid looks at bank statements for a long-term care application, why the 60-month look-back exists, and how to prepare five years of statements without keying them by hand.
Read articleA step-by-step guide to categorizing an LLC's bank transactions for clean books and an accurate tax return, including how to handle owner draws, contributions, and mixed spending.
Read articleCalifornia puts the monthly review list in statute, and it is a good checklist for any association. Here are the five reports an HOA board should see every month, what each one proves, and the specific things a director should question before approving them.
Read articleTrustees are not skimming your statements for embarrassing purchases. They are running a short, specific checklist: undisclosed accounts, income that does not match the schedules, transfers to insiders, and payments that preferred one creditor over the rest. Here is that checklist, and how to answer each item before the 341 meeting.
Read articleThe financials in a listing are prepared by the person selling the business. Bank statements are prepared by a third party with no stake in the price. Here is how to reconcile one against the other, what the variance thresholds mean, and which findings should change your offer.
Read articleThe ABA treats quarterly reconciliation as the floor and monthly as the better practice, and most states require monthly. Here is what the cadence actually means in practice, what has to be documented, and how long the records must be kept.
Read articleBanks release a decedent's statements to the appointed executor or administrator on presentation of letters testamentary and a certified death certificate. Here is exactly what to bring, how far back records go, what it costs, and what to do with the pages once they arrive.
Read articleMost Chapter 7 trustees ask for three to six months of statements before the 341 meeting, while the means test looks at the six full calendar months before filing. Here is what each period covers, what the trustee is actually reading, and how to get the statements into a usable form.
Read articleA QBO file is Intuit's QuickBooks Web Connect variant of the OFX format. Here is the header block, the STMTTRN transaction tags, and the INTU.BID tag QuickBooks checks before it accepts the file.
Read articleAn IIF file is a tab-separated text file that QuickBooks Desktop reads to import transactions. Here is what the !TRNS, !SPL, and ENDTRNS rows mean, which fields are required, and how to map an IIF file into spreadsheet columns.
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