Priya,
I agree with Emeka Ikwukeme - but it appears he may have moved on. I am looking at the Bank Statement Item Details Report and I'm afraid I need interpretation. What is displaying in this report? Are these just items that have cleared the bank?
A typical bank reconciliation report begins with the bank statement balance.
To that is added an itemized list of deposits that have been recorded, but not yet cleared the bank
Then itemized payments that have made, but not yet cleared the bank are subtracted.
The sum of these should agree to the balance according to the General Ledger.
Bank Statement Balance
Plus Outstanding Deposits
Less Outstanding Payments
Equals GL Cash account balance
With byDesign, I would expect that if we could get detail in the Casj Receipt Clearing Account and the Cash Disbursement Clearing Accounts, that might suffice.
Is there a way to get all this information in one concise report?
Kind Regards,
Raynes White, CPA