Found and correct balances as control methods

In the world of accounting as an instrument of business administrative control, the balances found represent those methods in which one starts from the bank balance by adding and subtracting.

Until reaching the balance of the subsidiary ledger (records of the entity), in the following from books to banks, it starts from the balance in the records of the entity until reaching the balance of the bank statement, it is the most used method.

It is essential to point out, at the time of performing any bank reconciliation, the dates of the floating or outstanding checks must be compared, among other aspects inherent to such process, for this purpose, it is necessary to file and safeguard the bank reconciliations, chronologically from the oldest document to the most recent one.

The correct balances represent those methods in which four columns are written, including the balance of the previous month, income, expenses and the balance of the current month; in the rows, the balance is written according to the bank statement, deposits, outstanding checks, credit and debit notes, credit and debit notes, and the balance of the current month.

In addition to the credit and debit notes, and the new balance in the company's books, it is also known as analytical because the items of the previous month are analyzed as well as those of the current month, as well as the concepts that are normally reconciling items.