Bank statement reconciliation

Import balances and movements, match each movement exactly and roll each account forward.

Step by step

Import balances Reconciliation Accountant

Reconciliation Accountant imports the opening and closing balance snapshots for each account from the provider.
- Snapshots recorded
- Updates Account snapshots, Financial accounts
Import movements Reconciliation Accountant

Reconciliation Accountant imports the provider's movements, each with its provider event ID. They start Unmatched.
- Movements Unmatched
- Updates Reconciliation items
Match exactly Reconciliation Accountant

Each movement is matched to its instruction on provider event, amount, date, verified evidence and account scope.
- Movements Matched
- Updates Reconciliation items, Bank instructions, Bank evidence
Raise exceptions Reconciliation Accountant

Movements that differ in amount or date, or have no instruction, become Exceptions with the reason.
- Movements in Exception
- Updates Reconciliation items
Roll forward Reconciliation Accountant

For each account, opening balance plus confirmed movements is checked against the closing snapshot.
- Account reconciled
- Updates Account snapshots, Reconciliation items
Resolve Treasury Preparer

Treasury prepares any missing instruction, such as a bank fee, and the exception is matched once it is approved.
- Exception matched
- Updates Bank instructions, Reconciliation items

And how to keep it from happening.

Start free, then use Proto to change fields, steps and approvals before your team goes live.