Deposits

This account reconciliation is an Asset account type and a List reconciliation type. This type of reconciliation allows you to make a list of the amounts that make up the account balance.

The Description shown above is probably too specific to be used for the overall description of the account. Several years from now when the deposit for the electric capacity increase has been repaid and a deposit is made for some other project, the Description will not be appropriate for the account. Of course, you can always change the Description at that time.

Below is the reconciliation for this account for the month ended 12/31/2010.

The reconciliation has been Prepared and Approved, but has not yet been Reviewed as noted by the appropriate staff members.

Here is the Reconciling Item for the deposit related to an increase in electric capacity needed at the plant. As you can see, the expected date of the refund of the deposit is shown so you will know when to follow up on the status of the refund check.

This item has an Open Date of 8/26/2010, and the Close Date is blank. When the refund is received, the close date can be completed. We also recommend adding information to the description regarding the date and check number of the refund check when it is received.

The month end report is shown here:

This particular account is reconciled with no Unidentified Difference. You can see that the Comment adds a level of responsibility identification to this particular reconciliation.

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