Question

MB’s School of Beauty calls you because their beginning balance is off in their reconciliation window for their checking account. You log in and see that there are many transactions that were changed/deleted in the last couple of months' reconciliations. She likes to do as much she can on her own. Which of the following next steps would you take?

Answer 1

Solution - Suggestive way/steps for reconciliation

1) First, pass a journal to create opening balance

2) undo the whole reconciliation and then again reconcile the account

3) also Undo the reconciliation of previous month so that the re-reconciliation can be done of current eath month since the effect is culumulatively adjusted

4) after reconciliation, use the option of auto adjustement to balance the reconciliation

5) Now, again enter the changed/deleted the transactions and then complete the reconciliation of current month.