G/L Reconciliation

The General Ledger Reconciliation side is a comparison of the G/L cash account and the transactions that have been entered in Cash Management. The calculated balance involves only those items that have not yet cleared the bank. This includes all of the outstanding checks and deposits.

The calculation is as follows: Calculated ending statement balance

+Outstanding deposits (per the Bank Reconciliation Detail Listing)

- Outstanding checks (per the Bank Reconciliation Detail Listing)

=Sub-total ending calculated G/L balance

-Actual GL ending balance

=Calculated balance (difference between calculated G/L balance and actual G/L balance)

The difference must be $0.00 for the statement to be updated. If there is a difference on the statement side of the bank reconciliation, one of the following is true:

  • One or more items have been posted to the General Ledger cash account that has not been entered into Cash Management, or

  • One or more items have been entered into Cash Management, but have not been posted to the G/L cash account