The reconciliation statement is doing great. Some of us users print it out and get a superior to sign them. The problem is, the statement doesn’t show cleared transactions. Of course the statement cannot show all cleared transactions for the bank account under consideration from genesis to date but there has to be a way you can show the cleared transactions for a selected period. This will help the reader verify cleared transactions for the reconciliation period.
The purpose of the reconciliation is to show uncleared transactions so as to illustrate the differentiation between the books of account balance and the Bank’s account balance.
Why does one need to verify cleared transactions, as in, if its dated within the period and not listed in the reconciliation, then by deduction it must be cleared.
Yeah true, a bank reconciliation’s primary purpose is to show why there is disagreement between the bank balance and cash book balance.
But the extra information I’m asking for is important too. For example, an aid (grantor) organisation and a grantee organisation open a joint bank account which will be run by the grantee. As part of the reports to the Grantor, the grantee has to add a BRS. This BRS must show cheques issued for the account still unpresented or Uncredited as well as credited or presented.
A BRS can’t show cheques credited or presented.
Why not do a report based on the joint bank account which has all the cheques and add the BRS as a supporting report for any outstanding items.
As mentioned elsewhere, arrangements between grantor & grantee organisations should be conducted via a BS Liability Special Account and then the Special Account can be used to generate such reports.
Sure, that is very well understood