How Falling Behind on Bank Reconciliations Impacts Your Business, and How to Fix It Fast
- John Rivers
- Nov 19
- 2 min read
Bank reconciliations are the backbone of accurate financial reporting. But in the fast-paced world of property management, where transactions flow in daily from multiple accounts, falling behind happens, and it happens fast.
At first, it’s a few days late. Then a few weeks. Before long, it’s a backlog that starts to slow everything else down.
Here’s what really happens when reconciliations slip, and how you can catch up quickly and prevent it from happening again.
1. The Silent Cost of Falling Behind
When reconciliations aren’t current, it becomes difficult to trust your numbers. Unreconciled accounts can hide duplicate entries, missing transactions, or even fraud. More often, they simply delay critical business decisions, leaving leadership to operate on incomplete or outdated information.
2. Why It Happens (and Why It’s Common)
For many organizations, the issue isn’t capability, it’s capacity. Teams are juggling month-end close, reporting deadlines, audits, and day-to-day operations. Reconciling every account across multiple properties and systems can quickly fall to the bottom of the list.
Add turnover or new software into the mix, and staying current becomes even more challenging.
3. The Business Impact
Delayed reconciliations create a ripple effect:
Inaccurate cash positions make forecasting unreliable.
Late financials slow down reporting and compliance.
Stress during audits as teams scramble to match entries.
The longer it goes unresolved, the more time it takes to unwind, and the greater the risk of errors slipping through.
4. How to Catch Up Efficiently
If your reconciliations are already behind, here’s where to start:
Prioritize high-activity accounts first. Bring the most critical accounts up to date before working down the list.
Use automation where possible. Tools like bank feeds and reconciliation templates can eliminate manual effort.
Bring in extra help. Sometimes, catching up requires more than one set of hands. A dedicated accounting services partner can help you clear the backlog quickly and accurately.
5. Staying Ahead with imkore Accounting Services
At imkore, we help property management and real estate organizations take control of their financial processes. Our Accounting Services team can:
Clean up months of reconciliations
Review and resolve discrepancies
Build ongoing processes that keep reconciliations current
We combine expertise with technology to deliver accurate, audit-ready results every month, so you can focus on running your business with confidence.
Learn more about our Accounting Services!
