Which report summarizes reconciled and outstanding transactions for a bank account?

The Reconciliation Summary Report is designed to provide a comprehensive overview of both reconciled and outstanding transactions for a specific bank account. This report gives users a summary format that highlights the results of the reconciliation process, showing what has been successfully matched against bank statements and what remains outstanding.

This summary allows financial teams to quickly assess the status of transactions without delving into minute details. It is particularly useful for identifying discrepancies and understanding the overall health of the bank account’s reconciled state in relation to the company's records. By summarizing the data, it enables stakeholders to make informed decisions and take necessary actions regarding any outstanding or unaccounted for transactions.

In contrast, other reports such as the Bank Register Report often provide a detailed list of all transactions within a certain period, the Reconciliation Detail Report focuses more on the specifics of each line item during reconciliation, and the Reconciliation History Report tracks changes over time rather than summarizing current reconciled and outstanding statuses.