Each transaction on the credit card statement is matched to transactions in the company’s internal systems.
If any amount is not matched with made accounts, we should check unauthorized charges
Corrective action may involve disputing transactions with the credit card processor, making journal entries to correct timing items or errors, or other actions to address transaction issues.
Making note of double entries being made and cancellation of the same.
Ledger has to be matched with bank statement from the beginning of the year so as to match the outstanding balance.
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