Hi, My client is on a cash basis and we do not close the books at the end of each month which I am not used to doing. My question is... should the checking account balance on the BS (current Assets) at the end of each period or EOY tie to the ending balance on the end of each period or EOY bank statement? For example, should the checking account balance on the Dec 31st 2018 tie to the BS OR will this amount move based on items that cleared at a later date (i.e. in Jan 2019)...? Per QBs ProAdvisor Support the balance will continue to change because transactions "post" at a later date but if that's the case then I"ll never have a good - non moving - balance sheet for those accounts, correct? Thank you for your help!
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