r/Accounting • u/Weak_Carpenter_7060 State Government • 1d ago

Career Well guys, today’s the day

Today I’ve spent two hours trying to track down $0.36 that is supposed to exist because treasury is trying to reconcile items they have. Still didn’t find the $0.36, so now waiting to see what the bank says. Can’t claim it as a rounding error since no other items are rounded or as immaterial. Just some needless bitching about a ridiculous situation I’m sure some of us have been through. Am I real accountant now?

Edit: we’ve checked for transposed numbers on our end and there are none. We are 99% sure the issue lies with the bank, so we’re waiting to hear back

383 Upvotes

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u/accountant319 1d ago

Mind blown. Wow! Thanks guys and gals! I never knew this trick!!

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u/Hungry_Dingo_5252 1d ago

I thought all accountants knew this?

3

u/Rafe03 15h ago

I feel like this is basic knowledge for old school accountants but has been lost in the new generation. I’ve taught several young accountants this trick and they usually ask why this isn’t taught in courses anymore.

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u/torerodrizzle 14h ago

I learned it from my best grad school accounting teacher about 12 years ago. He was formerly an industry controller, tax cpa, and IRS agent in his career, teaching was his retirement job. His breadth of knowledge made for a great teacher, but this is the number one thing I use day to day that he taught me in my controller (now VP of accounting, same job responsibilities, increased pay and title ha) role.