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For any larger entity, it is preferred that a cash reconciliation is performed once or twice a week to ensure obligations will be met when they become due.Supplier payments:Keeping track of all amounts owed to suppliers is crucial for any business, as each supplier will allow for different payment terms it is important comply with those terms:to ensure deliveries are done on time by your suppliers andto establish a good reputation and credit history with suppliers.Customer statements:A happy customer is a returning customer. Updating customer receipts on the customer reconciliation timeously after payment is received will ensure the customer will receive an accurate statement. Customers are more inclined to return if they have confidence in the business’s abilities they are dealing with.Other accounting transactions:Although the above accounts for most of the transactions, there will still be other entries to prepare and process. 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