Daily Bank Reconciliations Agreement

This Agreement is governed by the Master Services Agreement.

Please review the entirety of this agreement to understand the terms of your service. These terms are in place to ensure your success when working with our team. 

Daily Bank Reconciliation Inlcudes

Daily Process

  • We will log in to the online banking daily to review transactions and reconcile any new transactions.
  • Any new cleared transaction in the bank that is not yet entered will be sent to your team in an email within one business day. These new cleared items that are not yet in your software are referred to as ‘Missing Transactions.’  You will only receive an email from us when you have new missing transactions. 

Monthly Process

  • If there are any Missing Transactions from the previous month we will email your team a reminder every 3 days, starting on the 1st business day of the next month.
  • Once the bank statement is posted and any Missing Transactions are entered, APM Help will reconcile the bank in your software no later than the 10th of the month.
  • APM Help will create Three Way Reconciliation (state reconciliation) reports for up to 5 bank accounts per client.

Missing Transactions & Placeholders

  • If there are any remaining Missing Transactions on the 10th of the following month APM Help will enter Placeholders which are journal entries on the corporate property that represent a transaction at the bank. Placeholders are meant to be temporary.
  • APM Help will provide a list of Missing Transactions that have been entered as Placeholders when sending you your monthly reports. 
  • APM Help will remove Placeholders after your Team has entered the correct transactions into your database and APM Help has been made aware that these have been entered.

Client Responsibilities

  • Your team will do ALL bookkeeping and data entry. 
    • APM Help does not record transactions as a part of the daily bank reconciliation service, except temporary placeholders. Your team can email questions to support@apmhelp.com and we will assist you within 1 business day. All consulting time will be billed at the Consulting rate as specified by your contract.
  • Your team will reconcile all corporate and operating accounts.
  • Please enter any missing transactions and reply to APM Help within 48 hours when you receive emails from APM Help to avoid reconciliation delays.
  • If your team is unable to provide a transaction to the APM Help team by the 10th of the next month, we will record a placeholder. Your team will need to then book the missing transactions and let APM Help know when that is done so we can remove the placeholder.
    • Please note: The goal is to avoid placeholders at all costs. If you have more than 10 Missing Transactions per account and/or your Missing Transactions exceed a total of $10,000 per account we will pause all services until those are entered.
  • Respectful communication with our team (no use of slurs, foul language, aggressive tone of voice, etc.) 
  • Willingness to adjust processes based on best practices suggested by our team

If any company is in violation of this, we reserve the right to terminate services. You will be notified if any of these terms are violated and presented with a warning.