Reconcile a bank account
A reconciliation connects one bank account and statement period with the supporting transactions and review decisions.
Before you begin
Section titled “Before you begin”Confirm the company and bank account. Have the bank statement, its period dates, ending balance, and supporting records available. Preparation and approval depend on your assigned access.
Open the reconciliation
Section titled “Open the reconciliation”Open Banking → Bank Reconciliation, select the bank account, and open the reconciliation for the statement period you intend to prepare.
Work through the stages
Section titled “Work through the stages”| Stage | Your task |
|---|---|
| 1. Setup | Check the statement period and ending balance, and provide the statement PDF. |
| 2. Sources | Review the transaction sources for this account and period. |
| 3. Resolve | Review duplicate pairs when a transaction appears in both Plaid and a CSV import; record which source to keep. |
| 4. Match | Review bank and ledger transactions and record matching decisions. |
| 5. Outstanding | Review items that remain outstanding. |
| 6. Disclosures | Disclose CSV usage and review the exclusions section before submission. |
| 7. Submit | Resolve the listed blockers and submit the preparation for review. |
| 8. Review | An authorized reviewer checks the reconciliation and records the outcome. |
Use the stage navigation to revisit incomplete work. Check the selected account and period when returning to an existing reconciliation.
Submit for review
Section titled “Submit for review”The What’s blocking approval? list identifies unresolved rules. Address each blocker in its corresponding stage. When the reconciliation is ready, choose Submit for review and wait for confirmation.
A submitted reconciliation is awaiting review; it is not yet approved.
Review and lock
Section titled “Review and lock”An authorized reviewer opens Review and checks the preparation and remaining blockers. Approve and lock is available only when the application’s approval conditions are met. Confirm that the resulting status is approved and locked.
Troubleshooting
Section titled “Troubleshooting”- Submit is disabled: Check the blockers, current status, and whether a save is still in progress.
- Approval is unavailable: Check your role and any unresolved approval blockers.
- An action fails: Read the error and verify the current status before retrying.
- The statement does not agree: Recheck the selected account, period, ending balance, transaction sources, and outstanding items before continuing.
Related: create a journal and prepare for an audit.
v1.1.5 (8e20c95)