How to interpret information on the bank reconciliation report
The bank reconciliation report above is for the following bank reconciliation.
- Checks that were cleared will show in the cleared checks section.
- Uncleared Checks will show as outstanding in "Uncleared Checks."
- Voided checks that were cleared will show in two places: under "Cleared Checks" and under "Cleared Journal Entries."
- The voiding journal entry will have a comment indicating what check it is voiding
- The cleared journal entry amounts from voided checks and the cleared checks that were voided will cancel each other out.
- Cleared deposits will show in cleared deposits
- Deposits that have not cleared the bank will show in outstanding deposits
- Journal entries that were marked cleared will show in the cleared journal entry section and uncleared journal entries will show in uncleared journal entry section.
- Journal entries reflect both debit journal entries and credit journal entries.
- Voiding journal entries will have a comment indicating what check it is voiding.
Please sign in to leave a comment.