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una única partida en conciliación

English translation: reconciling item

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
Spanish term or phrase:partida en conciliación
English translation:reconciling item
Entered by: Belinda Adams
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15:11 May 27, 2003
Spanish to English translations [PRO]
Bus/Financial
Spanish term or phrase: una única partida en conciliación
Todas las cuentas bancarias, tienen conciliación bancaria realizada, existe una única partida en conciliación de 571, la cual se considera inmaterial para nuestra revisión.

O.K. My question is...can I assume that this means that there was a difference of 571 euros?
Katherine Matles
Spain
Local time: 03:32
only one reconciling item
Explanation:
Reconciling items or "partidas de conciliación" are identified differences between the bank statement position and the cash book / accounting position - this could be because of timing differences etc.

An auditor will review large reconciling items because it could be that a company is overstating its books compared to the real bank position by applying "fake" reconcililing items. However, in this case, because the reconciling item was small, it was decided that it was not material in the scope of the audit

Sorry for rambling on - and I hope that you understand what I'm getting at!

Belinda
Selected response from:

Belinda Adams
Local time: 03:32
Grading comment
Thanks Belinda, that's exactly what they were getting at...
Cecilia, I checked to make sure that it wasn't one of the subheadings and it just so happens that 571 refers to foreign currency transactions (this paragraph refers to bank accounts in foreign currencies)...but the auditor confirmed that is a reconciling item.
4 KudoZ points were awarded for this answer

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Summary of answers provided
5only one reconciling itemBelinda Adams
4There is only one entry in the settlement of item 571
Parrot
3 +1a single entry/account is yet to be reconciled
Luis Rey Ballesteros (Luiroi)
4there remains only one item to be reconciliated
swisstell


  

Answers


3 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5
there remains only one item to be reconciliated


Explanation:
yes, there is that discrepancy of Euro 571 to be accounted for

swisstell
Italy
Local time: 03:32
Native speaker of: German
PRO pts in pair: 2063
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6 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5 peer agreement (net): +1
a single entry/account is yet to be reconciled


Explanation:
and 570 have already been dealt with/reconciled. This is what I understand. Luck

Luis Rey Ballesteros (Luiroi)
Local time: 20:32
Native speaker of: Native in SpanishSpanish
PRO pts in pair: 3739

Peer comments on this answer (and responses from the answerer)
agree  Gordana Podvezanec
14 mins
  -> Thanks, Gordana

neutral  Belinda Adams: But reconciliations have been carried out on all bank accounts......
19 mins
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8 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5
There is only one entry in the settlement of item 571


Explanation:
571 sounds to me like a sub-heading of the official "Plan General de Contabilidad". If yr. office has an accountant, check it out.

Parrot
Spain
Local time: 03:32
Native speaker of: Native in EnglishEnglish
PRO pts in pair: 7645
Login to enter a peer comment (or grade)

11 mins   confidence: Answerer confidence 5/5
only one reconciling item


Explanation:
Reconciling items or "partidas de conciliación" are identified differences between the bank statement position and the cash book / accounting position - this could be because of timing differences etc.

An auditor will review large reconciling items because it could be that a company is overstating its books compared to the real bank position by applying "fake" reconcililing items. However, in this case, because the reconciling item was small, it was decided that it was not material in the scope of the audit

Sorry for rambling on - and I hope that you understand what I'm getting at!

Belinda

Belinda Adams
Local time: 03:32
Native speaker of: Native in EnglishEnglish
PRO pts in pair: 83
Grading comment
Thanks Belinda, that's exactly what they were getting at...
Cecilia, I checked to make sure that it wasn't one of the subheadings and it just so happens that 571 refers to foreign currency transactions (this paragraph refers to bank accounts in foreign currencies)...but the auditor confirmed that is a reconciling item.
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