Report flags / bank statement
NUMBERS“Transactions don't add up to the closing balance”
What this flag on a bank statement means, why it matters, and what to check.
What it means
The beginning balance plus all deposits and minus all withdrawals doesn't equal the ending balance.
Why it matters
Bank statements are generated from the ledger and always reconcile. Editing a deposit usually breaks the totals.
Ordinary explanations
- A page missing from the statement you received.
What to check
Ask the applicant for the statement downloaded directly from the bank's website or app, and compare the balances.
A flag is a reason to verify with the source, not proof. Apply the same steps to every applicant.
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