When printed with outstanding entries, the Reconciliation Report provides a calculation of the current balance for the account being reconciled as of the statement date of the reconciliation. This figure is calculated by subtracting any outstanding withdrawals and adding any outstanding deposits to the ending balance.
This calculation can be compared to the Current Balance on the Balance Sheet if the following are true:
If all of the above is true and the two numbers still do not match, it may be due to one or more of the following:
For more information, including steps to troubleshooting a difference between these two numbers, refer to Knowledge Base Article R11661, “GLS Reconciliation Troubleshooting.”
Comments are closed.