The unreconciled difference is the variance between your calculated bank statement ending balance versus what you tell the system you bank statement ending balance actually is.
Below you will see the calculation for a checkbook reconciliation as shown in a reconciliation report. Follow the four categorized reconciliation groups and you will see the calculation for your unreconciled amount as well as the calculation back to your current checkbook balance.
In order to successfully reconcile your checkbook the unreconciled amount should equal zero. If your amount is anything other than zero, you still have marked uncleared items that have cleared the bank, or visa versa, or unrecorded items that need to be posted into the checkbook.
- Cleared within the checkbook reconciliation screen:
- Total Cleared Deposits & EFT Deposits - $5,000.00
- Total Cleared Checks & EFT Payments - $2,000.00
- Total net cleared items +$3,000.00
- Assuming the beginning bank statement balance was $0.00 your ending bank statement balance should show $3,000.00 based on the currently cleared items.
- If you enter anything other than $3,000.00 as an ending balance, you have unreconciled items that need to be cleared or recorded.