Why this is mistaken
A bank-side timing item changes the bank-statement starting point because the entity already recorded the event. No new entry follows. First identify which record is waiting; do not record a valid event twice.
Where to watch
When this mistake may appear
- The item appears on the bank side of the reconciliation.
Check your work
Your work may contain this mistake if:
- Records a second receipt for a deposit in transit or a second payment for an outstanding check.