I have a quick question for you.
When I am reconciling the Bank account in the bank statement I have checks that were paid in the previous month but was charged to my account only in the following month. As such when I am performing the reconciliation for my bank account there is a discrepancy, due to those checks that were paid last month but charged only the following month. Ho can I deal with this discrepancy?
Thanks for your question. I believe what you are referring to is an “in transit’ transaction. You can learn more about how to handle these in the below article:
Hope that helps. If there are any other questions let us know.
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