How is the difference between the reconciled balance and the G/L balance calculated?
In the bank reconciliation window, it’s necessary to mark both debits and credits as outstanding items. The total of these outstanding items is then subtracted from the ending statement balance to produce the reconciled balance. Clients & Profits compares the reconciled balance with the G/L balance for that account and calculates the difference. To make this process faster, select the option to “clear all items” in the first screen of the bank reconciliation. This option will mark all entries in the second screen of the bank reconciliation as cleared items. You will then need to select only the outstanding items.
