Reconciliation Supporting Documentation

Do You Need to Strengthen your Supporting detail?

Supporting documentation provides detail for and substantiates the general ledger balance being reconciled.  Supporting documentation should be detailed enough so that a person with no extensive knowledge of the account can review the reconciliation and understand the nature of the balance.  Examples of supporting documentation include, but are not limited to, bank or other third party statements. 

​While the description lines for most journals have a limited number of characters, Management should give more attention to the comments and explanations being provided by the accountant for reasons of audit and future reference.  Avoid high level explanations, these are the ones we tend to forget why the journal was posted when we reference back months later.

Source: VanderbiltUniversity