Our banking is done on accrual basis. This is a bank reconciliation question.
Example: $100.00 Expense recorded in cash book on 10/30/2023. It is deducted from the bank statement as it is an outstanding check.
11/3/2013: the payment for $100.00 clears the bank. Do I deduct/add this amount to the cash book side of the reconciliation in November?
Example: $100.00 Expense recorded in cash book on 10/30/2023. It is deducted from the bank statement as it is an outstanding check.
11/3/2013: the payment for $100.00 clears the bank. Do I deduct/add this amount to the cash book side of the reconciliation in November?