Bank reconciliation
Outstanding checks and deposits in transit
Outstanding checks are payments in the books that the bank has not paid yet; deposits in transit are receipts in the books that the bank has not credited yet. Both explain why the bank balance and the book balance differ, and both come out of the matching as lists.
Step 1
Bank statement
PDF from online banking, a scan, or the bank's CSV or Excel export.
Step 2
Books
The bank account's register or ledger from QuickBooks, Xero or a spreadsheet, as CSV or Excel.
Old outstanding checks
Checks match on their check number even months later, so an old check that finally clears is found, and a check that never clears stays on the outstanding list with its date, which makes stale checks easy to spot.
After the statement date
Book entries dated after the statement's last day belong to the next statement. They are listed separately and not counted as outstanding.
Pricing
- ✓PDF, scanned, CSV and Excel statements
- ✓QuickBooks, Xero and spreadsheet ledgers
- ✓Check numbers, groups and near misses
- ✓Reconciliation report in Excel
- ✓Files never stored
Prices in USD are approximate. Checkout charges the exact amount in USD at Stripe’s exchange rate (a 2–4% conversion fee is included), or in euros if you prefer. No VAT or sales tax is added. Monthly, cancel any month. A statement is one uploaded statement file; matching it again or against a corrected ledger is not counted again.
Questions
- How is the statement date set?
- From the last transaction on the statement. You can type the ending balances from the statement and the books into the report to see the difference.