The document shows daily transaction data from Visa, Mastercard, and debit card balances over a month-long period. It displays differences between the bank's balances and the company's balances each day. Some key details include a $268.75 transaction that cleared a day late, resulting in a difference, and a $2,835.40 transaction that caused an out of balance on one day. The document explains that this data makes it easy to identify transactions causing reconciliation differences and that journal entries may be needed to resolve unsettled transactions at month end.

1. Bank Reconciliation
Example
Data from Daily Balancing Reports

2. Visa,M/C/Debit 3/27/2005 3/28/2005 3/29/2005 3/30/2005 3/31/2005 4/1/2005 4/2/2005 4/3/2005 4/4/2005 4/5/2005 4/6/2005 4/7/2005 4/8/2005 4/9/2005 4/10/2005 4/11/2005 4/12/2005 4/13/2005 4/14/2005
Difference fromours and bank
101 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
102 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
104 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
106 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
107 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 268.75 0.00 0.00 0.00 0.00
108 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
109 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 2,835.40 (2,835.40) 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
110 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
111 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
113 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
114 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
115 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
116 0.00 (71.86) 71.88 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
117 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
119 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
122 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
125 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
126 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
127 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
302 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 (71.86) 71.88 0.00 0.00 0.00 0.00 0.00 2,835.40 (2,835.40) 0.00 0.00 0.00 0.00 268.75 0.00 0.00 0.00 0.00
a card had to be resubmitted this is just a couple of example of how this shows when 268.75 visa trans#37 (lookat daily data transaction detailto find)
problemwith batch something settles wrong or not at all. Makes it easy to this card didn't clear bank
this was an actual identify the problem. In a usualmonth there would be many at end of month if it has not been resolved
transaction that Differences fromours and banks but Idon't want to go through make up Iwould then have to make a JEto reduce (on the bankrecon worksheet)
happened scenarios with this made up data visa and put to over or short
( a batch fromreg 1 cleared a day late) This is really easy way to find what transaction caused
the out of balance when doing the BankReconciliations

3. 4/15/2005 4/16/2005 4/17/2005 4/18/2005 4/19/2005 4/20/2005 4/21/2005 4/22/2005 4/23/2005 4/24/2005 4/25/2005
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
et)

4. 4/26/2005 4/27/2005 4/28/2005 4/29/2005 4/30/2005
intransit bank cards v, mc, dr for bank recon
0.00 0.00 1,466.92 1,515.72 1,677.87 4,660.52
0.00 0.00 1,445.74 1,491.10 1,641.81 4,578.66
0.00 0.00 1,340.88 1,392.05 1,562.05 4,294.97
0.00 0.00 1,378.86 1,434.38 1,618.83 4,432.06
0.00 0.00 3,841.77 3,938.84 4,261.34 12,310.70 I'll be using these numbers as the
0.00 0.00 1,046.56 1,129.91 1,406.81 3,583.28 intransit amount on the bank
0.00 0.00 4,010.46 4,093.88 4,371.04 12,475.38 reconciliations w hen I do them
0.00 0.00 1,824.17 1,910.32 2,196.52 5,931.02
0.00 0.00 325.38 344.52 408.12 1,078.02
0.00 0.00 1,181.87 1,245.08 1,455.08 3,882.03
0.00 0.00 1,106.06 1,144.44 1,271.94 3,522.44
0.00 0.00 2,237.46 2,302.10 2,516.85 7,056.42
0.00 0.00 1,535.27 1,625.03 1,923.23 5,083.55
0.00 0.00 1,231.00 1,273.18 1,413.32 3,917.51
0.00 0.00 1,498.61 1,564.83 1,784.83 4,848.27
0.00 0.00 1,159.63 1,249.47 1,547.95 3,957.05
0.00 0.00 1,016.27 1,060.56 1,207.70 3,284.54
0.00 0.00 1,060.46 1,101.54 1,238.04 3,400.05
0.00 0.00 1,420.00 1,464.46 1,612.16 4,496.61
0.00 0.00 2,611.37 2,768.59 3,290.93 8,670.89
0.00 0.00 32,738.73 34,050.01 38,406.43 105,463.94
105,195.17
(268.77)
this is a uncleared bank card and w ill
need a JEon bank recon to show w hy
out of balance
intransit bank cards

5. This is very simplified bank
recon but is the basic idea
of how I did my bank recons
Bank Balance 263,200.65$ .
Outstanding Payroll 34,789.00$
Outstanding Accts Payable 343,806.22$
Intransit Cr Cards or (cl'rd early)
Visa, MC, Debit 105,195.19$
Discover 19,734.03$
Amex
Actual Bank Balance 9,534.65$
………………………………………………………………………………………………………………………………
Company GL Balance 10,142.22$
Misc balancing JE
Bank Service fees 253.16$
Bad Check fees 75.00$
Over Draft fees -$
AMEX fees 10.66$
visa trans#37 on 4/10/05 didn't clear 268.75$
Adjusted GL Bank Balance 9,534.65$
Bank Reconciliation
Apr-05

6. - , , DEBIT , CREDIT ,
9310-0 - 000 , Bank Service fees , $253.16 , ,
9315-0 - 000 , Bad Check fees , $75.00 , ,
1350-0 - 107 , VISA trans#37 on 4/10/05 didn't clr, , $268.75 ,
9000-0 107 bad debt trans#37 on 4/10/05 didn't clr$250.00
4200-0 107 SALES TAX trans#37 on 4/10/05 didn't clr$18.75 this sls tax was already paid on Nevada Return
9310-0 - 000 , AMEX fees , $10.66 , , so next month it's going to show they were
1000-0 - 000 , CASH IN BANK , , $338.82 , short but this is why. I could just put to
7000-1 - 107 , COGS #37 on 4/10/05 didn't clr, , $143.62 , sls tax over or short acct now and it wouldn't
9370-0 - 107 , Shrinkage (loss of inventory) , $143.62 , , show up next month as short but this is one more
- , , , , reason you should know your sales sls tax over
, , , or shorts!!!!!!!! There are so many different things
TOTAL - , , 751.19 , 751.19 , that can affect your sls tax collected accounts
- , To record misc Bank Fees and uncleard bank cards why knowing your over or shorts are important!
most likely instead of reducing sales tax this entry I spent prbly half my day at Skaggs( in 80's )finding sls tax
would have been put to bad debts. But I wanted to show whatissues via the old fashion way from register tape rolls.
actually happened so this is how I illustrated it. And this wayIt was a very good education on retail accounting, if sales audit
you could just pay this much less in sales sls tax on the nextwere to miss something I would find it when doing sales sls taxes!
return. Some States only allow a bad debt deduction on the returns
once a year as I remember. I never took the bad debt deduction on the
sls tax returns but did it this way. sls tax will show as short next month on GL
but because I explained on this JE, I'll know why right away. Explanations are good!
And as for the shrinkage, JE is made after doing a periodic inventory
and probably would of just been left to COGS but in my opinion it
should be shrinkage because after all it is stolen inventory by nonpayment.
ACCOUNT DESCRIPTION
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