What if the Bank is Out of Balance with the General Ledger?

If the G/L Difference in the Bank Account Reconciliation window is not zero once you have reconciled the bank statement:

Researching differences using the Bank Account Reconciliation Report

There are four tabs on the Bank Account Reconciliation Report which play a part in determining the source of any differences between the bank and the G/L.

All transactions/totals with dates within the reconciled period contained on the Bank Reconciliation and Outstanding tabs must match the transactions/totals on the Actual GL Detail Tab.
(Bank Reconciliation (current period) + Outstanding (current period) = Actual GL Detail)

Find & correct the differences

Start by looking at the differences for the deposits on the GL Reconciliation Tab. Then look at the transactions on the Actual GL Tab. Compare the amounts to the transactions in the Bank Reconciliation and Outstanding Tabs, highlighting matches as you go until you locate one or more transactions/totals that don’t have matches.

Continue this process comparing the withdrawals and credits, also highlighting as you go until you have located all of the differences.

Determine how to correct these differences and re-run the Bank Account Reconciliation Report to confirm all differences have been resolved.

Transactions that may cause differences

 

Return to Reconcile a Bank Account

Return to Bank Account Register Overview