FINANCIAL TRANSACTION MANAGEMENT FOR ACCURATE AND CONSISTENT RECORDKEEPING
Professional financial transaction management services that ensure every record of financial transactions is accurate, current, and aligned with your business operations and reporting needs.
Structured Financial Transaction Management for Reliable Bookkeeping
At McElhaney Bookkeeping, we provide comprehensive financial transaction management services designed to support business owners who need consistent and dependable records. Maintaining an accurate and complete record of financial transactions is the foundation of effective bookkeeping and meaningful financial reporting. We ensure that all transactions—sales, expenses, transfers, adjustments, and more—are recorded, categorized, and reconciled in a timely manner.
Contact us today to learn how we can streamline your books.
Consistent and Accurate Recording
We ensure that all business transactions are captured properly and on time, avoiding data gaps or inaccuracies that affect reporting and compliance.
Improve Financial Transparency
Accurate financial transaction management supports detailed reporting and cash flow analysis, helping you understand how money moves through your business.
Audit-Ready Records
With a complete record of financial transactions, your business will be well-prepared for tax filing or third-party audits without needing last-minute corrections.
Operational Efficiency
Delegating your financial transaction management to us reduces manual work and ensures your books stay organized as your business activities increase.
Daily Transaction Entry and Categorization
Our team processes your business’s daily transactions, entering and categorizing each one based on your chart of accounts. This step is vital in ensuring all sales, purchases, payroll expenses, and other financial events are properly recorded. We track every transaction in real-time or on a regular schedule, depending on your business’s volume and needs. Proper categorization is key to accurate reporting, budgeting, and tax readiness. Our focus is not just to enter data, but to maintain a structured record of financial transactions that supports long-term planning and accountability.
- Enter all income and expense transactions daily or weekly
- Categorize each transaction under correct accounts
- Match entries with receipts, invoices, and supporting documents
- Flag and clarify unusual or unclear entries
- Maintain consistency with financial software and chart of accounts
Bank and Credit Card Reconciliation
Every record of financial transactions must be verified against external sources like bank and credit card statements. We perform regular reconciliations to confirm that recorded balances match actual funds, catching errors or discrepancies early. This process strengthens your financial integrity and helps identify missing transactions, duplicate entries, or bank errors. Timely reconciliation is a critical part of reliable financial transaction management, ensuring the books reflect true account activity.
- Reconcile bank accounts on a monthly or bi-weekly basis
- Match recorded transactions with bank and card statements
- Identify and correct discrepancies quickly
- Record fees, interest, and adjustments accurately
- Provide detailed reconciliation reports
Documentation and Digital Recordkeeping
An accurate record of financial transactions must be supported by clear documentation. We maintain digital files for receipts, invoices, bills, and bank statements, indexed and stored securely. This archive allows for quick retrieval, strengthens audit readiness, and supports business transparency. By keeping a detailed paper trail for every entry, our financial transaction management process ensures nothing is missed and every transaction is verifiable.
- Store receipts, bills, and statements in a secure format
- Organize documents by date, vendor, and transaction type
- Link each transaction to its supporting documentation
- Maintain access to past documents for audits or reviews
- Ensure compliance with document retention policies
Adjustment Entries and Error Corrections
Mistakes or outdated entries can affect your financial accuracy. Our financial transaction management includes reviewing and correcting such entries through well-documented journal adjustments. Whether due to misclassification, timing issues, or missing details, we ensure your financial records reflect actual business performance. This is especially useful for businesses that are transitioning between software or recovering from previous bookkeeping inconsistencies.
- Identify entries needing correction or adjustment
- Record adjusting journal entries with full explanations
- Align previous periods with corrected data
- Maintain audit trails for all adjustments made
- Communicate changes to client for transparency
Monthly Reporting and Transaction Summaries
We generate summaries that reflect your current financial position, based on your record of financial transactions. These include profit and loss reports, balance sheets, and cash flow statements. Regular reporting ensures that you always know where your business stands financially, and helps you spot trends, plan budgets, and make confident decisions.
Generate monthly profit and loss statements
Deliver up-to-date balance sheets and cash flow reports
Highlight significant trends in income or expenses
Provide summaries of transaction volume and categories
Support budget planning with accurate data
McElhaney Bookkeeping, LLC is a bookkeeping service that provides expert financial management to dentists and small businesses in Greensboro, Wilmington, Winston-Salem, Durham, Raleigh, Fayetteville, and the surrounding North Carolina areas.