Correcting Bank Reconciliation Lines

Once you have filled in the bank account reconciliation header and lines, you must compare the suggested lines with the transactions on the bank’s statement. If the reconciliation lines do not agree with the bank statement, you must correct the lines.

To Correct Bank Reconciliation Lines:

  1. Open the Bank Acc. Reconciliation window.

  2. Select any lines that appear on the reconciliation lines but do not appear on the bank statement, and press Delete. Click OK to delete.

  3. Enter a new line with any transaction from the bank statement that does not appear on the reconciliation lines.

  4. Enter a new line with interest or fees from the bank statement.

The Difference field now shows the amounts from any new entries created in steps 2 and 3, because they have not been applied to bank ledger entries for the bank account yet. The ledger entries that were suggested by the program were automatically applied to. Therefore, the Difference field contains 0 for these entries.

It is not possible to post the bank reconciliation unless the sum of the contents of the Statement Ending Balance field is equal to the contents of the Total Balance field. To get these to balance, you must apply entries.

Related Topics

Applying Two Bank Statement Transactions to One Ledger Entry

Handling Erroneous Bank Statement Transactions

Posting Transactions Recorded by the Bank Only

Posting Bank Reconciliations