What should be done with uncleared items once they clear in the bank?

When uncleared items clear in the bank, the appropriate action is to reconcile them to the uncleared items account. This process is crucial because reconciliation ensures that all transactions are accurately recorded and matched between your accounting records and the bank statement.

By reconciling these items, you confirm that the amounts reflected in your accounting software align with what has cleared the bank. This step is critical in maintaining accurate financial records, ensuring that both your cash balance in your accounting system and the actual cash balance in your bank account are consistent. Without this reconciliation, discrepancies can arise, leading to potential financial misstatements.

On the other hand, archiving, deleting, or rolling items into the next fiscal year would not address the need for accurate record-keeping and could result in missing important financial information or errors in accounting data. Clear reconciliation is essential for maintaining the integrity of financial reporting in any business.