Bank Reconciliation Reports

Bank Reconciliation Reports

Bank Reconciliation Reports give you a summary view of how well your books match up with your bank statements. See which transactions have been reconciled, which are still outstanding, and whether there are any discrepancies to investigate.

What You'll See

• Account Summary: One section per bank account showing reconciled balance, outstanding items, and book balance
• Reconciled Transactions: Items that have been matched and cleared
• Outstanding Items: Transactions in your books that haven't cleared the bank yet (like checks that haven't been cashed)
• Discrepancies: Any differences between your book balance and bank balance

Why It Matters

Regular bank reconciliation is one of the most important internal controls for any organization. It catches errors, prevents fraud, and gives you confidence that your financial statements are accurate.

When to Run It

• Monthly: Best practice is to reconcile every bank account at least once a month
• Before Board Meetings: Make sure everything is reconciled before presenting financials
• At Year-End: Essential for clean financial statements and audit readiness