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6. Add to the fund balance from the Cash Summary Report, the total of the outstanding checks from the outstanding Disbursement Summary Report, (Step #4). Subtract from this total any deposits posted to the system that have not been credited to your account by the banking institution.
Note This last item would typically be due to a deposit made late in the month that was posted on the computer, but was not posted by the bank on the current bank statement - 7. Compute the total of all bank statements, change funds, petty cash funds, and investments.
- 8. Compare the total from Step #6 with the total from Step #7. If they are identical, the banks statements agree, (i.e.---are reconciled) to the financial statement from the computer system. If this is the case, you are finished with this procedure.
For reconciliation issues, please see the Identifying Reconciliation Errors.