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Outstanding Activity

A banking term referring to transaction activity not recorded to the member’s account. In almost all cases, these are transactions the bank is unaware of in its system. A good example is a check that has yet to be presented for payment.

Bookkeeping – Bank Reconciliations (Lesson 47)


An essential task of bookkeeping is making sure the ledger accounts for cash reconcile to the bank.   Your average person believes that this is a monthly task.    Well in the private world, this may be true.   But in small business, this is a [...]