How Do You Balance the Bank Rec in the Middle of the Month?
If you are having a difficult time getting your bank reconciliation to balance at the end of the month, you can reconcile more frequently. By reconciling several times during the month, it takes a large task and breaks it down into smaller pieces. This way any transactions that may cause you a problem will be more fresh in your mind.
To balance during the middle of the month, pull the statement off your financial institution’s website. Enter in the ending balance as of the day you pulled the statement and clear all check and deposits from the beginning of the month until the current date. If this is not the first bank reconciliation you have done during this month, you will clear all checks and deposits from the last day that you reconciled until the current date.
You can click the finish later button when you are done. Nothing will post to the general ledger and no checks or deposits will be removed from your outstanding check and deposit listing until you click the finish now button. Once you reach the end of the month, and you complete the final bank rec through the last day of the month, you can click finish now and any necessary general ledger postings will be made. You will not be able to start the bank rec for the current month, until the general ledger for the previous month is closed.