Your friend, who owns a small landscaping business, asks you the following questions: Someone told me that

Question:

Your friend, who owns a small landscaping business, asks you the following questions: “Someone told me that I should be preparing bank reconciliations for my business account. Why do I need to do this? If I want to know how much cash I have in the business, can’t I just look at my bank balance online?”
Required:
Respond to your friend’s questions.