Bank Reconciliation
Bank reconciliation is the process of matching your accounting records with your bank statement. It ensures every transaction is accounted for.
Why Reconcile?
Reconciliation catches errors, finds missing transactions, and ensures your records match reality.
Starting a Reconciliation
- 1 Navigate to Banks → Reconciliation
- 2 Select the bank account
- 3 Enter the statement end date
- 4 Enter the statement closing balance
- 5 Click Start Reconciliation
Matching Transactions
Review each transaction and tick those that appear on your bank statement. The difference should be zero when complete.
Statement Balance: £5,432.10
Cleared Balance: £5,432.10
Difference: £0.00 ✓
Common Issues
- Missing transactions - Import or add manually
- Duplicate entries - Delete the duplicate
- Wrong amounts - Edit and correct
- Bank fees - Create an expense for the fee