Use the Bank Reconciliation History Entry program to view and create of historical reconciliations.
You can maintain a historical account of each bank's reconciliations using the beginning and ending balances for the statement as well as the reconciliation date.
This information is used to print the Bank Reconciliation Report (SMR590) that shows cleared checks and deposits and outstanding checks and deposits. Most companies use this information from current period balancing, and prior period analysis, and research perspectives. Historical bank reconciliations are typically required by auditors during the course of a Financial Statement Audit or Review.
Processing Notes
The reconciliation date that stored on cleared transactions records is the date used for historical reporting purposes. The reconciliation history file is updated when you click Reconcile during bank reconciliation processing in the Bank Reconciliation Entry (SME520) program.