Classic bank reconciliation - cleared uncleared and totals

Classic bank reconciliation - reconciliation cleared uncleared and totals

• Bank Reconciliation

• Classic Bank Reconciliation

• Cleared

• Uncleared

• Totals

• Balance

Bank Balance – from the Bank statement for the referenced time period

GL Book Balance - This is the total value of transactions that have affected the GL account associated with your bank account (in the Bank Record file) during the reconciliation date range. Please see article  Classic Bank Reconciliation - Calculating the GL Book Balance

Example: 

Cleared                                                         Outstanding
AP Checks         50,636.19                            AP Checks        425,191.80

PR Checks         1,647,946.29                       PR Checks        48,898,415.94

Deposits           2,008.00                              Deposits           90,197.16

Adjustments     23.36                                   Adjustments    7,329.72

TOTAL               -1,696,551.12                      TOTAL              -49,226,080.86

                 

Cleared - These fields display total amount of AP checks, payroll checks, deposits, and adjustments that have been cleared through the AP, PR, and Adjustment/Deposit Reconciliation programs.

Total Cleared – Sum of Cleared fields

Cleared deposits + Cleared Adjustments – Cleared AP – Cleared Payroll  = Total Cleared

2,008.00               + 23.36                         - 50,636.19   - 1,647,946.29      = -1,696,551.22

Outstanding- These fields display the totals of all AP and payroll checks that have not been cleared, as well as any deposits or adjustments that have not been cleared.

Total Outstanding – Sum of outstanding fields

Out Deposits + Out Adjustments – Out AP           – Out Payroll          = Total Outstanding

90,197.16      + 7,329.72               - 425,191.80      - 48,898,415.94      = -49,226,080.86

Balance (Section)

Bank Balance:    -1,077,748.05 brought down from Bank Balance field

+ Total Outstanding:    -49,226,080.26 brought down from the Total Outstanding field

Reconciliation Difference: -50,303,828.91

GL Book Balance: -1,077,748.05 brought down from the GL Book Balance field

-Reconciliation Balance: -50,303,828.91 brought over from the Reconciliation balance field

Reconciliation Difference: 49,226,080.66 (sum of GL Book Balance - Reconciliation Balance)