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consultmpr
Level 1

Can I resolve banking discrepancies?

Can i resolve bank reconciliation discrepancies?
1 Comment 1
ThatBkkpr
Level 3

Can I resolve banking discrepancies?

Yes, you can resolve bank reconciliation discrepancies by reconciling the bank statement or credit card statement exactly to zero when actually reconciling. You cannot undo a reconciliation, but an accountant or bookkeeper has specialized software to undo the bad reconciliations so you can state all over again.

 

Make sure when reconciling, you are matching all your expenses, deposits (payments), and interest earned, if any, to what the bank statement has. If you do not come to zero, then see what is missing before finalizing the reconciliation. Hire a proadvisor to show you how to reconcile if you have a problem understanding how to reconcile. Good luck.

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