Ledger, posting and reconciliation
Double-entry bookkeeping, posting rules, and the booking entries behind every message
Ledger, posting and reconciliation: double-entry bookkeeping in banking, posting rules, and the booking entries behind every message.
What You Can Do After This Chapter
Learning objective. Learner explains double-entry bookkeeping and posting rules, and states the exact debit and credit entry at each step for a pacs.008, a pacs.004 return and a camt.056 recall. Learner distinguishes booking from non-booking entries, explains loro, mirror and shadow accounts, traces the sub-ledger to the general ledger, and fixes a wrong value date with camt.087 and camt.027.
Practical assessment. Learner receives a pacs.008 payment and its pacs.004 return, then writes the debit and credit entry at each step, explains the loro and mirror account postings, and reconciles the sub-ledger to the general ledger. Learner also corrects a value date error using camt.087.
Expected deliverables.
- Booking entries table for pacs.008, pacs.004 and camt.056
- Loro, mirror and shadow account diagram
- Sub-ledger to general ledger reconciliation note
- Value-date correction case with camt.087
Completion criterion. Learner writes correct debit and credit entries for the pacs.008 and the pacs.004, explains the loro and mirror postings, and completes the value date correction with the right messages.