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Post Info TOPIC: Difference on bank reconciliation
Wendy


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Difference on bank reconciliation
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Hi there

I'm just in the process of reconciling my clients bank a/c and I've got a difference of exactly £108? The actual bank balance per the bank statement is £27,563. O/s lodgments and payments are net £5,536. I've no idea how to find the difference. There are no regular payments for this amount each month/year etc and most frustratingly - I've even ticked the bank!!

I'm tempted to write it off to drawings, but before I speak to my client I would welcome any suggestions!

Thanks & best wishes

Wendy

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SarahT


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Hi Wendy

Your difference of £108 is divisible exactly by 9 which may indicate that you havetransposed two numbers (have two numbers the wrong way round) e.g. you may entered £86 instead of £68 etc.

Even if you were careful ticking the bank it is still very easy not to pick this up.

Worth a try anyway!

Sarah



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Lillian


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Great tip Sarah!

If that doesn't help though, I would be tempted to write off the balance. Based on a balance of £27 grand, I would not worry too much about £108.

You can spend forever sometimes looking for differences. Remember the more time you spend the more it costs your client.

Lillian

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Wendy


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Posts: 80
Date:
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Success!!! I found the difference!! I hadn't transposed two numbers, although thanks for the tip, I will look out for this in the future. Simply missed out a transaction (silly me).smile

Relief - I can now enjoy the weekend.

Thanks guys

Wendy



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