Reconciling bank statement for the year 2020 but tne prior year reconciliation never reconciled

wire_jp

Hello,

I was asked by a new client to reconcile a bank statement for the year 2020 but the prior year bank statements from the years 2017 -2019 were never reconciled. I have found unknown transactions in January 2020 (I cannot find these transactions on any other bank statement account in order to determine if it was a transaction misapplied to the wrong account). However January 2020 bank reconciliation is out of balance due to prior year out-of-balance transactions. How do I resolve this issue?

wire_jp

I figured out how to solve my issue. I will have a brought forward reconciling difference due to unreconciled prior year balances before the year 2020. As I reconcile the bank statements during the 2020 year, I just have to make sure that the reconciling difference remain the same amount.