Title says it all: how do you analyze your company's bank statement? How often do you do it? do you use tools or just excel?
As for myself, I typically
- download a full data export from our bank account every month
- export it in Excel
- reclassify expenses (by nature of cost)
- reclassify revenues (e.g. if customer paid for 12 months, spread that sum over 12 mo)
- create a full p&l for the month
Not really real time, but at least every month I want to have full closings.
Lots of repeated work, wondering how others go about this
