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How to Reconcile Bank Statements

Bank reconciliation ensures that your internal accounting records match your actual bank balance. This guide explains how to use the Reconciliation Matcher to bridge the gap between your bank statements and internal payments.

Prerequisites

Before reconciling, ensure:

  • You have recorded and Confirmed your internal payments.
  • You have created or imported a Bank Statement with transaction lines.
  • Reconciliation is enabled in Company Settings.

1. Access the Reconciliation Matcher

  1. Navigate to Accounting > Bank Statements.
  2. Locate the statement you wish to reconcile.
  3. Click the Reconcile action (green scale icon).

2. Match a Statement Line to a Payment

The interface is divided into Bank Transactions (left) and System Payments (right).

  1. Select a Bank Transaction on the left.
  2. The system will suggest matching System Payments on the right based on the amount.
  3. Select the corresponding payment.
  4. Verify that the Remaining Balance at the bottom is zero.
  5. Click Reconcile Selected.

The payment status will update to Reconciled, and the statement line will be marked as matched.

3. Reconcile Multiple Items (Batch Match)

You can match multiple bank lines against multiple payments if their totals align.

  1. Select multiple checkboxes for Bank Transactions.
  2. Select multiple checkboxes for System Payments.
  3. Ensure the totals match and the difference is zero.
  4. Click Reconcile Selected.

4. Handle Discrepancies (Direct Write-off)

If a bank transaction has no matching internal payment (e.g., bank fees or interest), you can record it directly:

  1. Select the Bank Transaction.
  2. Click the Manual Entry / Write-off tab.
  3. Select an Account (e.g., Bank Service Charges).
  4. Enter the amount and description.
  5. Click Reconcile.

The system will create the necessary journal entry and reconcile the line.

Next Steps