Bank Error Reconciliation


Robert Stepp

Quickbooks 2002 help states for handling bank errors:

Occasionally, your bank or credit card company may make a mistake by
processing a transaction for a different amount than you wrote it for. If
so, you can let QuickBooks make an adjustment transaction.

1. Let QuickBooks make an adjustment transaction for the difference.
2. Contact your bank or credit card company and report the error.
3. When you receive your next statement, verify that it contains an
adjustment for the error.
4. Delete the adjustment transaction from the account register.
5. Reconcile the new statement with the account.

When I try to reconcile the new statement with the account (step #5), my
Quickbooks bank account is still needs an adjusting entry to reconcile-just
as it did with the previous statement.

My questions are:
1. Is this a never ending cycle?
2. What is this doing to the accuracy of the entire system?



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