Compare the books with the bank statement.
Review bank-account entries alongside the statement to identify timing differences and missing records. Keep reconciliation separate from simply entering a receipt.
Bank book + statement
Compare and investigate
Explained differences
Reconciliation explains differences between your book and the bank.
The bank book records the business entries made in the software. The bank statement records what the bank processed. Their balances can differ because of timing, bank charges, missing entries or errors. Reconciliation compares these two views and identifies the reason for each difference.
Choose the same account and period, compare references and amounts, then investigate unmatched entries. Record genuine missing charges or receipts through the appropriate accounting workflow. Demonstrate the reconciliation facilities in your installed version; the separate automated Bank Matching project is not implied by this guide.
How to use it.
Compare the books with the bank statement.
- 01
Choose the bank account and period
- 02
Compare recorded entries with the statement
- 03
Investigate unmatched amounts and complete supported reconciliation
What this looks like in your business.
A cheque is entered on one date but appears in the bank statement later. The two dates need to be understood rather than duplicated.
Good questions.
Clear answers.
Choose the workflow that fits your business and confirm its setup in a demonstration.
Is an unmatched entry always an error?
No. It may be a valid timing difference. Establish whether the transaction occurred, which date each system uses and whether the amount will clear later before deciding that an entry needs correction.
What setup should I confirm?
This page covers reconciliation. New automated statement-matching capabilities require separate release confirmation.
What else can help?
Customer and supplier ledgers
See what a customer owes or a supplier is due.
Read the guide →Ledger with item details
Understand the balance and the items behind it.
Read the guide →Bill-by-bill outstanding
Know which invoice still needs payment.
Read the guide →See it with a sample from your business.
Bring a sample bill or item list. We’ll show you the steps and answer your questions.