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2. Record uncleared withdrawals and deposits

When you entered the opening balance of your bank account, if this included the value of any uncleared transactions (such as unpresented cheques), you'll need to record these uncleared transactions in such a way that the opening bank account balance is not affected.

To record these uncleared deposits and withdrawals, you need to post a debit and a credit of equal amounts for each transaction against the applicable bank account. This will then allow you to reconcile these transactions when the cheques are eventually presented.


When you're done, continue with 3. Reconcile.