stanstrad wrote:I have attempted several variations of including real outstanding with fake outstanding with and with out the dupes, but can't seem to find the magic combination to get the difference to zero. I have never had problems reconciling the Other category and I think once CHQ fixes the bugs it will be ok. Any ideas of how to handle page 9 form on the audit with this type issue?
I had a similar problem, and CHQ fixed many of the problems, but there are still some they haven't fixed. What I saw for the most part was that what you call "duplicates" are actually corresponding transactions where one is a debit and one is a credit for the same check number. Regardless of what else I decide, I will pair up those transactions and eliminate them from the "Other" account reconciliation on the audit form, since they offset.
Once you've done that, I think you have two options, but you should ask the auditor which you should do. Although you fill out the Other account reconciliation, he is responsible for the audit form, so you should take his guidance on this topic. Here are the options I see:
- List all the remaining outstanding items on the reconciliation form. If they won't fit, just list the total and attach another sheet.
- Do further analysis and determine which checks have actually cleared on any statement in the past. Exclude all of those from the report and list only those that are truly outstanding.