Documentation Index

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Bank Reconciliation Wizard - User Guide

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Overview

• You must have fa.reconciliation.create permission
• Have an active bank account with a linked GL account
• Download your bank statement file (CSV or OFX format) :::

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Quick Reference

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Step-by-Step Guide

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Step 1: Select Bank Account

1. Navigate to Finance > Reconciliations
2. Click New Reconciliation button
3. Select the bank account to reconcile from the dropdown
4. Choose the Reconciliation Date (typically end of statement period)
5. Set the Period Start Date and Period End Date to match your statement

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Step 2: Import Bank Statement

1. Click or drag to upload your bank statement file
2. Select the File Format:
   • CSV - Comma-separated values (most common)
   • OFX - Open Financial Exchange format
3. Wait for the file to be parsed and validated
4. Review the import summary showing:
   • Number of transactions imported
   • Total debits and credits
   • Beginning and ending balances

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Step 3: Review Auto-Matches

• Amount (exact or tolerance-based)
• Date proximity
• Description/reference similarity

• High Confidence (≥70%): Shown in green - usually correct
• Medium Confidence (50-69%): Shown in yellow - verify manually
• Low Confidence (<50%): Shown in red - likely needs manual attention

1. Find the match in the list
2. Click the Remove button
3. The transaction returns to the unmatched pool

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Step 4: Manual Match Exceptions

1. Select one or more Bank Transactions from the left column
2. Select corresponding GL Entries from the right column
3. Verify the totals match (shown at bottom of each column)
4. Click Create Match

• 1:1 match - One bank transaction to one GL entry
• 1:many match - One bank transaction to multiple GL entries
• many:1 match - Multiple bank transactions to one GL entry

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Step 5: Complete Reconciliation

1. Click Complete Reconciliation
2. The reconciliation is finalized and locked

1. Review unmatched transactions
2. Check for missing GL entries
3. Verify statement balances are correct
4. Create adjusting entries if needed

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CSV File Format

• Negative amounts = debits (withdrawals, checks, fees)
• Positive amounts = credits (deposits, transfers in)

Date,Description,Amount,Check Number,Reference
2026-01-02,Opening Balance,10000.00,,
2026-01-05,Check - Vendor Payment,-500.00,1001,
2026-01-10,Direct Deposit Payroll,5000.00,,DEP001
2026-01-15,Bank Fee,-25.00,,FEE-JAN

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Tips & Best Practices

• Reconcile Monthly: Don’t let statements accumulate
• Check Dates First: Ensure period dates capture all relevant transactions
• Review Low Confidence Matches: Auto-matching isn’t perfect
• Document Discrepancies: Add notes for future reference
• Save Progress: Use “Save and Exit” for complex reconciliations

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Troubleshooting

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Issue: Reconciliation Not Balanced

1. Check for unmatched transactions in both lists
2. Verify beginning balance matches prior reconciliation
3. Look for duplicate matches (same transaction matched twice)
4. Check for missing GL entries (timing differences)
5. Review bank fees that may need separate entries

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Issue: Auto-Match Not Finding Matches

1. Verify GL entries exist for the reconciliation period
2. Check that amounts match exactly (including sign)
3. Ensure dates are within the matching tolerance (typically ±3 days)
4. Look for amount rounding differences
5. Use manual matching for unusual transactions

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Issue: Cannot Complete - “Not Balanced” Error

1. The difference must be ≤ $0.01 to complete
2. Check for outstanding items not yet accounted for
3. Create adjusting journal entries if needed
4. Contact your accounting team for large discrepancies

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Issue: CSV Import Fails

1. Verify file is saved as UTF-8 CSV format
2. Check column headers match expected format
3. Ensure dates are in YYYY-MM-DD format
4. Remove any special characters from amounts
5. Try OFX format if available from your bank

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Related Guides

• Bank Accounts Setup
• General Ledger Guide
• Chart of Accounts Guide