Bank Reconciliation Enter New Statement Information Field and Definitions:

 

Bank Name	The name of the bank which is being reconciled
Account Number	The number that the bank has for this account
Account Title	The G/L title for this bank
Last Statement Reconciled	The date of the last reconciliation for this bank will default into this field. This field is editable when the users process a Bank Statement for the first time, but will only allow you to enter a date that is earlier than the Statement Date that is being processed. This will prevent the user from accidentally entering in the exact same date or later than the Statement Date being processed.
Beginning Balance	Beginning Balance for this account
Statement Date	The date of the bank statement
Ending Balance	The ending balance per the bank statement
Deposits Cleared per Bank	This is the total of all of the cleared deposits per the bank statement
Checks Cleared per Bank	This is the total of all of the cleared checks per the bank statement
Interest Earned per Bank	This is the amount of any interest credited to the bank account by the bank. Upon the final save after the reconciliation is complete, the appropriate journal entry is created
Service Charges per Bank	This is the amount of any charges debited to the bank account by the bank. Upon the final save after the reconciliation is complete, the appropriate journal entry is created.
Calculated Balance per Bank	This amount is the opening balance + deposits cleared – checks cleared + interest earned – service charges and should equal the exact amount of the ending balance per the bank statement
Difference	This would be any difference between the New Ending Balance per Bank and the Calculated Balance per Bank. This amount should be zero.