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Reconciliation error on Charity accounts
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Hi all. i hope this post is in the correct forum. I have been treasurer for my local motorcycle club for 7 years. During this year, i wrote a cheque for £106.50, but in the cheque words wrote One hundred and six pounds only. The bank therefore paid £106. The person recieving the cheque was not worried, but this has created a discrepancy between the cheque stub and expenses claim form , which show £106.50, and the amount shown paid on the bank statement. As I am now preparing the end of year accounts, this will creat a 50p discrepancy between the bank balance differences over the year, compared to the balance of income and expenditure, my gut feeling is to leave it, and when I present to our AGM simply explain the error. I do not feel it is appropriate to alter the cheque stub or claim form. Another committee member suggested we show the 50p as a cash donation to the club. I would appreciate your thoughts on the correct way to proceed. Thanks .