Bank available balance

I have a deposit made at the bank on the last day of the month and the corresponding accounting entries are made on our books (Dr Bank Cr AR). However the bank has not made the funds available and therefore my available balance is less than the bank balance which includes the deposit credited already to my account. Because there is a chance that this check may bounce, can I make another set of entries to reverse the bank entries that I already made and present this on the bank reconciliation as a reconciling item for the bank balance? Is this in compliance with GAAP? Any accounting literature I could refer to? Thanks in advance.