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How to do it
1. Open the right account and period
Choose the business bank or credit account and the statement dates.
2. Review imported transactions
Check any pending entries and decide whether to post, correct or exclude them.
3. Match the statement
Compare the starting balance, transactions and ending balance with the official statement.
4. Fix any difference
Look for missing transactions, duplicates, transfers or incorrect amounts.
5. Finish when the numbers agree
Save or complete the reconciliation only when you are satisfied the records match.
Good to know: A matching balance is a useful check, but you should still review unusual transactions.
Related guides
- Import bank and credit card transactions
- Set up your business
- Prepare your business records for year-end
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