Reconcile every account that moves business money
The account list can include operating and savings accounts, credit cards, payment processors and financing balances. We compare statement dates, opening balances and individual transactions, then identify entries that need a source document or a timing explanation. Transfers between business accounts are matched on both sides.
For card sales, the amount deposited may already exclude processing fees, refunds or other adjustments. We use the settlement report to connect the gross activity with the bank receipt. A loan payment is also reviewed against the financing statement rather than automatically classed as an operating expense.
Leave an explanation for the next month
Outstanding cheques and deposits in transit may be legitimate timing differences. Old unreconciled items require follow-up. We keep a concise record of each material difference, who will investigate and what would establish that it has cleared. A forced adjustment may hide a problem that would otherwise be easy to trace.
Illustrative Regina example
A Regina equipment supplier transfers $6,200 from its operating account to a business savings account. Only the outgoing entry was imported, and the transfer was categorized as an expense. Matching the receiving statement corrects the classification and explains why the profit report understated performance. The reconciliation also confirms that the money remains a business asset rather than a supplier payment.
Questions about this work
Do you need statements if the bank feed works?
Yes. Statements provide an independent period-end balance and help identify missing or duplicated feed transactions.
Can you investigate old differences?
Yes, subject to available records. We start with the last reliable reconciliation and establish a correction plan rather than forcing the current balance.
Put this into practice
Sources and current guidance
A practical next step
Bring the records you have.
We can identify missing information, agree on the scope and organize the next bookkeeping step.
Request a bookkeeping review