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Bank reconciliations

We check each bank, credit card and loan account against its statement every month, inside your own Xero, MYOB or QuickBooks Online file. Missing, doubled or misallocated lines get corrected, and anything only you can explain comes back to you as a short list.

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The accounts
Bank, credit card and loan
The check
Books against statements
What comes back
A list of open questions

What's included

Reconciliation work for businesses that enter their own transactions but want the matching done properly, or that want it as part of monthly bookkeeping.

  • Each bank, credit card and loan account matched to its statement
  • Closing balances in your software checked against the balance the bank shows
  • Transactions missing from your books found and added from the statement
  • Duplicate entries picked up and corrected
  • Amounts posted to the wrong account moved to the right one
  • Payments matched to the bills and invoices they settle
  • Transfers between your own accounts matched on both sides
  • A list of transactions nobody recognises, for you to answer
  • A month-end summary of what changed and what is still open

Not included

Your day-to-day data entry, unless we also look after your monthly bookkeeping. Your accountant's work stays with your accountant, who can use the reconciled records and the list of outstanding items.

How a reconciliation works

The same three steps for every account, once the month closes.

  1. 01

    Connect

    You give us access to your accounting software and send the month's statement for each account.

  2. 02

    Each month

    We tick off every line in your books against the statement, then sort out anything missing, doubled up or in the wrong place.

  3. 03

    Report back

    You get the reconciled balances, plus the items we could not place without your answer.

Bank reconciliation questions

What is a bank reconciliation, in plain words?
It's comparing your accounting records with the bank statement and explaining any differences. We correct errors in your books and identify items that haven't cleared yet. If the bank has made an error, we flag it for you to raise with the bank.
How often should my accounts be reconciled?
Once a month is the usual rhythm, as soon as the month's statement is out. If an account is busy, we can agree to reconcile it more often.
What happens with a transaction nobody recognises?
We don't guess. It goes on a list with its date, amount and the description from the statement, and we ask you what it was. Once you tell us, we record it against the right account.
My bank feeds are connected. Do I still need to send statements?
Yes. A feed can miss a line or bring one in twice, so we use the statement to check that the feed is complete. We reconcile your records to its closing balance, allowing for payments and deposits that haven't cleared yet.
We haven't reconciled for months. Can you start from this month?
The earlier months need putting right first, because this month's opening balance is only as reliable as last month's closing one. We do that as catch-up bookkeeping, working forward from the earliest gap, then carry on monthly.
I do my own data entry. Can you just do the reconciliations?
Yes. You keep entering transactions the way you do now, and we reconcile each account at month end. We tell you what we changed, so you can spot where entries tend to go astray.

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