Cash Management :Bank Statement with Reversal of Payment
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How to reconcile a bank statement having
A) One single line of 10,000 dollars corresponding to a payment file
Credits(Reversals) for rejecting few payments amounting to say -2000 dollars. ( Net payment made by bank = 10,000 - 2000 = 8000 dollars)
Rejected Payments have been voided in the system and hence - only 8000 Dollar worth of payments ia available for reconiling with 10,000 dollar bank statement line.
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