USA Reconciling Accrued Bonus Account

[kimberlykelly49]

Hello,

Can someone please let me know what 2 accounts are compared in reconciling the accrued bonus account?

Kim

 

[Steve-LevelUp]

Bonus expense and bonus accrual

 

[kirby]

In a correctly performed recon, you compare the GL balance to external info. So to do this for accrued bonus, you have to compare the accrued bonus gl acct to what management intends to pay as bonus. That number comes from HR or management, usually supported by a memo.