Bank Balance Control Report

Created by Dakota Martin, Modified on Fri, 03 Mar 2023 at 10:38 AM by Dakota Martin


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Overview

The Bank Balance Control Report compares a current, unreconciled, bank statement balance against the last reconciled balance plus subsequent deposits, less subsequent withdrawals. This comparison can be useful to find any discrepancies between the bank statement and the items or amounts entered in Actionstep 

 

NOTE

This report cannot be used for trust accounts. A similar report for trust bank accounts, the Trust Bank Balance Control Report, is located at Reports > Trust Reports in the General section.

 

 

Accessing the Bank Balance Control Report

The Bank Balance Control Report is located in Reports > Accounting Reports in the Banking section.  

 

 

Report Configuration Options

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There are four settings or filters that can be applied to this report.

Account

The Account dropdown displays all non-trust bank accounts in the system. The selected bank account is the account against which the report will be run.

Bank Statement Date 

The Bank Statement Date controls which items are factored into the report output.

It is an "as-at" date. This means it filters out items that are dated after the designated date to provide information that would be valid on the Bank Statement Date.

Bank Statement Balance 

The Bank Statement balance is the comparison balance for the report. It is compared with the previous reconciled balance, taking subsequent deposits and withdrawals into account. This should be your bank statement balance as of the Bank Statement Date.  

Submit 

Selecting Submit generates the report in the same browser tab.

Cancel 

Selecting Cancel navigates away from the report to the Reconciliations screen. 

 

 

Understanding the Output of the Report

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The results of the Bank Balance Control report will appear on the screen. There is no option to download or export the report but you can print the page through your browser.

The meaning behind each field displayed is explained below.

Date Prepared

The date the report has been generated.

Prepared By

The user who has generated the report.

Opening Balance from Previous Reconciliation

The opening balance from the previous reconciliation. The ID of that reconciliation is shown to the right.

Plus Deposits

Deposit amount from the previous reconciliation. This includes Firm Receipts and Client Receipts.

Less Withdrawals

Withdrawal amount from the previous reconciliation. This includes Firm Withdrawals and payments to supplier invoices.

Closing Balance from Previous Reconciliation

The closing balance from the previous reconciliation, which is the opening balance plus deposits less withdrawals. 

From the example image above:

124,507.72 + 47,700.51 - 63,032.88 =  109,175.35

 

NOTE

This information can also be seen by accessing the previous bank reconciliation (Accounting > Banking > Reconciliations) under the Reconciliation Detail header.

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Subsequent Deposits

Deposits created after the previous reconciliation but before the 'Bank Statement Date'.

Subsequent Withdrawals

Withdrawals created after the previous reconciliation but before the 'Bank Statement Date'.

System Balance at Statement Date

The balance of the selected bank account as of the 'Bank Statement Date'.

Statement Balance

The amount entered as the 'Bank Statement Balance' in the configuration options. 

Out of Balance

The difference between the 'System Balance at Statement Date' and the 'Statement Balance'.

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100,172.18 - 100,000.00 = 172.18