Bookkeeping › Bank Reconciliation
How do you handle a customer's standing order paid into the wrong period?
AdvancedAnswer
If a customer's standing order is credited by the bank in one period but recorded in the cash book in another, it becomes a timing/reconciling item until both records align. The cash book entry should be dated correctly; if it was missed, post it and, if period-end, ensure the receivable and income fall in the right period.
Real-world example A customer standing order banked on the 30th but posted on the 1st is a timing item bridging the two periods.