What do you reconcile your internally used dda accounts to?
For example, we have an internal dda used to pay the Holding company directors and our dividends periodically. There is no report to reconcile the bank statement back to.
For this one, I think the only reasonable thing to do is have someone who can not make transactions in the account review the statement and sign off. For example, for a month with dividends paid out of the account, the reviewer can make a reference to the approved dividend amount noted in the BOD minutes. How does your bank handles these?
I ask this because several times I have seen a spreadsheet that just repeats the information and the formulas do the math and get called a "reconciliation".
Any comments are much appreciated.