INFORMATION:  

 

Bank Recon – Step 5 – Miscellaneous Amounts

 

PROCESS:

 

From Bank Recon > Bank Recon > Step 5 

 

 

 

Step # 5:  This step allows you to enter non-posted items – Other Additions (Add) or Other Deductions (Less) to the reconciliation.  

 

Important:  This step should only be used as a temporary solution for non-posted bank errors or any other non-posted miscellaneous items that will be corrected in a following month.  

 

If the bank makes an error, which they will eventually correct, just decide whether the item should be added to or subtracted from the bank Statement Ending Balance in order to balance with the Receipts and Disbursement report.  

 

  • Will the bank be adding funds to your bank account to correct an error? 
    • Use the ADD line 

 

  • Will the bank be subtracting funds from your bank account to correct an error? 
    • Use the LESS line 

 

Type in the Description and enter the Amount of the error on the appropriate Add or Less line.  

 

Tip – On Step # 7, there is an Additional Comments text box that can be used for a longer explanation of a Step 5 item, if needed.  Be sure to enter a short Description here on Step 5 also. 

 

Note:  If the bank is not going to correct their error, a Journal Entry will be needed to adjust your books.  If a Journal Entry is posted, do not enter anything on this screen.   

 

When ready to proceed, click on Next Step.