- "In the last 20 years our business has changed considerably…and as the focus of our business has changed, Bird Luckin have moved with us."
Alex Tanner, George Tanner (Shalford) Ltd - "Bird Luckin has looked after us incredibly well for over 60 years, they are pro-active and innovational - meeting all our needs to help us achieve our aims."
Richard Stubbings, Cliffords Limited - "I can honestly say that Bird Luckin are the best firm of accountants and auditors I have ever dealt with - and I don't say that lightly!"
Colin Webb, Walthamstow Stadium - "It's important for us to know that we will always be able to contact the right people to give us the right advice and support."
Jane Bennett, Bennetts Funeral Directors - "Although we deal mainly with one Partner … we also know that if we need to contact someone else who is a specialist in another area, we can get the advice we need quickly and easily"
Jeremy Ruggles, J.S. Wright & Sons Ltd - "Bird Luckin got us to a stage which would have taken us months - if not years - to reach on our own, and they got us there in a matter of weeks"
Matthew Sullivan, SNC Ltd - "You can be a good accountant, but if you don't have an understanding of the industry it can be very difficult. "There are two or three people we have regular contact with at Bird Luckin who know our business well, and it makes a difference.""
Robert Church, W A Church (Bures) Ltd - "The work which Bird Luckin has done for Boddingtons over the past few months has helped shape our future direction for the better."
John Warner, Chief Executive, Boddingtons Ltd - "Bird Luckin has acted for us since our inception 10 years ago. They have a very 'can do' yet highly professional attitude - we are very appreciative of their support and advice over the years."
Marlon Fox, Outlook Property Ltd
Balancing your bank account
When you enter records of money paid into and out of your bank account into the cash book, there is a delay of at least a couple of days until these transactions are cleared through the banking system and appear on your bank statement. Therefore, the bank balance according to the cash book will normally be different from that on your bank statement at any given date.
To ensure that the difference between the two balances is due merely to the time difference in entering items, you should draw up a bank reconciliation statement:
| 1: Bank balance per the cash book: | £ |
| Balance at beginning of month (in hand) | 654.20 |
| Add cash book receipts (total for month) | 3421.06 |
| Less cash book payments (total for month) | (2189.70) |
| Balance at end of month (in hand) | 1885.56 |
| 2: Bank reconciliation from the bank statement: | £ | |
| Balance at end of month (from bank statement) | 2189.65 | |
| Add outstanding bankings (bankings made in the last few days of the month that do not appear on the statement until after the end of the month) |
561.20 | |
| 2750.85 | ||
| Less outstanding cheques written before the end of the month but not yet presented to the bank |
||
| Cheque No. | Amount | |
| 001378 | 69.25 | |
| 001381 | 686.19 | |
| 001384 | 50.00 | |
| 001385 | 59.85 | |
| (865.29) | ||
| Balance at end of month: | 1885.56 | |
If after your reconciliation there is still a difference between the two balances, check the cash book and bank statements in detail to find the discrepancy.
Common mistakes are:
- Cheques either not recorded in the cash book or entered twice
- Standing orders or direct debits not recorded
- Bankings or giro credits not recorded
- Mis-additions in the cash book
- Cheques still outstanding from the previous month
You should amend the cash book to agree with your bank reconciliation.
Do call us if you would like further help or advice in this area.