This section provides detailed explanations of the values and calculations shown in the Statement Roll Forward and Bank Reconciliation Details areas of the reconciliation screen.
Statement Roll Forward Details
Statement Date
The Statement Date should match the ending date of the bank statement being used to reconcile the checkbook. Transactions outside this date will still appear in the list; however, they cannot be marked as cleared (the checkbox will not be available for those items).
Last Statement Balance
This value pulls from the statement balance used in the prior reconciliation. If no prior reconciliation has been performed, this amount will be zero.
Checks
The number of items and total amount for CLEARED checks.
Deposits
The number of items and total amount for CLEARED deposits.
Interest Income
The number of items and total amount for CLEARED interest income entries.
Bank Charges
The number of items and total amount for CLEARED bank charges.
Other
The number of items and total amount for other CLEARED items.
Current Statement Balance
The ending balance entered by the user for the current bank statement being reconciled.
Unreconciled Difference
The difference between the cleared items and the Current Statement Balance. The equation used to calculate this value is:
(Last Statement Balance
- Checks
+ Deposits
+ Interest Income
- Bank Charges
+/- Other Items)
- Current Statement Balance
This amount must equal zero before the statement can be reconciled.
Bank Reconciliation Details
G/L Balance Date
The date selected to balance the bank reconciliation against the general ledger cash account. This date may be any day on or after the Statement Date.
Balance per Bank Statement
This value pulls from the Current Statement Balance in the Statement Roll Forward Details section.
Outstanding Checks
The number of items and total amount for IN TRANSIT checks.
Deposits in Transit
The number of items and total amount for IN TRANSIT deposits.
Other Items in Transit
The number of items and total amount for other IN TRANSIT items.
G/L Balance per Analysis
The difference between the Balance per Bank Statement and the in-transit items. The equation used to calculate this value is:
Balance per Bank Statement
+ Outstanding Checks
- Deposits in Transit
+/- Other Items
Unreconciled Difference
The difference between the G/L Balance as of the Balance Date and the G/L Balance per Analysis. The equation is:
G/L Balance as of Balance Date
- G/L Balance per Analysis
If the reconciled bank account matches the balance shown in the general ledger cash account, this value will be zero. If it is not zero, the accounts are out of balance and should be investigated. Common causes include:
Unposted journal batches
Unrecorded transactions
Improperly recorded transactions
G/L Balance as of Balance Date
The balance in the general ledger cash account assigned to this bank as of the selected G/L Balance Date.