Uncleared Items on the Reconciliation Screen
Let’s talk about “Uncleared’ transactions in a reconciliation. This does not have to be a lengthy discussion. It’s just important to know that any uncleared deposits show the availability of funds that are potentially not there and could cause overpayments; thus overdrawing the bank account.
Uncleared checks are important to monitor as well, but this call to action is specifically in regards to deposits that have not cleared your bank account in real life, therefore, cannot be cleared during a reconciliation in your accounting software.
This is something that is seen quite often in company books and is cause to not pass a review of those company books, whether it be an in house audit or an official compliance audit. APM Help is committed to assisting the Property Management Community in an effort to achieve clean books and is here for all of your needs. Contact us today for all of your immediate and future needs. It’s as simple as clicking on the Messenger button to start a conversation now.