User Support Forum

Just wondering how much does the statement date matter.

The bank statement closes the month of March on the 29th. If I use March 29, it won't include payroll transactions that "occurred" on March 31, however I need to include those transactions otherwise it won't reconcile (the money actually left our bank account prior to the 29th so it's included in the bank statement).

neac wrote:Just wondering how much does the statement date matter.

The bank statement closes the month of March on the 29th. If I use March 29, it won't include payroll transactions that "occurred" on March 31, however I need to include those transactions otherwise it won't reconcile (the money actually left our bank account prior to the 29th so it's included in the bank statement).

You use what the bank statement says, however if there are transactions dated for the 31st that closed on or before the bank statement date, you should then UNCHECK the box at the top of the reconcile window (only show items before the statement date) so that those transactions are seen.

How to stop this in future? Write the checks for the date the funds will be removed from the bank. For instance, in Payroll, I'll write the checks for the pay period (1st thru 15th), however, the date of the check is the date I enter the transaction at the bank for the direct deposit.