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Level 1

How do you reconcile Bank of America Cash Pro account, that has float?

I received bank statements from a new client and am not sure how to reconcile their Full Analysis Checking statement. I have never seen a Full Analysis Checking statement, the statements each month have a $0 starting and ending balance. I asked the client for some more info on the type of account at Bank of America and this is what she replied: 

"Yes, they bank with cash pro and its totally different. They have two accounts, one is a "float" account so the funds go in there and then transfer immediately to the other account. Let me look at it more and see if I can figure it out. Let me know if you have any insights! I am not familiar with cash pro at all.”

Would love some insight on how to reconcile a Bank of America Cash Pro account.

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How do you reconcile Bank of America Cash Pro account, that has float?

Hello there, speakron.

 

When reconciling an account, you'll need to base your data on the bank statement. Since the starting and ending balances are zero, you just need to make sure that the transactions included to the period will be balanced as well. You just need to follow what's on the statement.

 

Here are some links that you can use for reference:

We'll be right here if you have additional questions about reconciling the account.

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