A correct bank balance does not prove that every payment was authorised. Cash control requires both reconciliation and oversight of access. Reconciliation explains differences between the bank and the books; access review asks who can create, approve and release transactions. Keep those questions connected while recognising that one cannot substitute for the other. A business needs evidence that both activities operate in practice.
List all business accounts and the people with access. Include payment platforms and accounts used only occasionally, not just the main current account. Record permissions, approval arrangements and changes when employees join or leave. Shared credentials obscure responsibility and make reviews harder. The owner should understand who can alter beneficiaries or approval settings, because those powers may be as important as the authority to release an individual payment.
Assign reconciliation to someone able to compare statements with the ledger and investigate exceptions. Where independent preparation is impractical, arrange a separate documented review. Identify outstanding items by age and reason, rather than carrying a permanent unexplained difference forward. Confirm that adjustments reach the books and have support. A reconciliation that merely forces two totals to agree can hide the very issue it should reveal to management.
Imagine a hypothetical consultancy that closes an old account after moving its main banking relationship. The access inventory reveals a second payment platform still linked to the former account and a departed employee with permissions. The review addresses those access issues separately from reconciling the final transactions. It does not assume that a zero balance means every associated authority or operational connection has already been removed.
Check payment runs against approved instructions and review unusual beneficiaries or amounts in context. Keep evidence of who reviewed the reconciliation and how exceptions were resolved. Do not allow the same individual to prepare a payment, change recipient details and certify the bank reconciliation without meaningful oversight. If staffing constraints require overlap, document the compensating check and verify that it actually takes place consistently during busy periods.
A periodic cash control review should cover account completeness, permission changes, reconciliations and unresolved differences. Assign owners to gaps and test closure using real records. This can improve visibility over money and responsibilities without suggesting that controls eliminate all risk or that an internal review is equivalent to independent assurance over the company's complete annual financial statements.