{"id":65,"date":"2018-06-19T11:16:59","date_gmt":"2018-06-19T11:16:59","guid":{"rendered":"http:\/\/documentation.easypcaccounts.co.uk\/?page_id=65"},"modified":"2026-03-02T22:40:09","modified_gmt":"2026-03-02T22:40:09","slug":"bank-reconciliation","status":"publish","type":"page","link":"https:\/\/documentation.easypcaccounts.co.uk\/index.php\/processes\/bank-reconciliation\/","title":{"rendered":"Bank reconciliation"},"content":{"rendered":"\n<p>Bank reconciliation is a critical financial control and should be carried out regularly \u2014 typically each time you receive a bank statement.<\/p>\n\n\n\n<p>This process confirms that:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The balance in Easy PC Accounts matches the bank\u2019s records<\/li>\n\n\n\n<li>All income and expenditure has been recorded<\/li>\n\n\n\n<li>No transactions are missing<\/li>\n\n\n\n<li>Errors are identified promptly<\/li>\n<\/ul>\n\n\n\n<p>Full guidance on the importance of bank reconciliation can be found in <em>Governance and Accountability for Smaller Authorities in England<\/em>. If you are unfamiliar with the process, we strongly recommend reviewing the relevant sections of that guide.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\">When to Reconcile<\/h2>\n\n\n\n<p>You should carry out a reconciliation:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Monthly, when the bank statement is received<\/li>\n\n\n\n<li>After downloading a statement from online banking<\/li>\n\n\n\n<li>Before presenting financial reports to council<\/li>\n\n\n\n<li>At year end before completing AGAR<\/li>\n<\/ul>\n\n\n\n<p>Bank statements may arrive:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>By post<\/li>\n\n\n\n<li>Via online banking download<\/li>\n<\/ul>\n\n\n\n<p>You will need the statement\u2019s:<\/p>\n\n\n\n<p><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Closing balance<\/li>\n\n\n\n<li>Statement date<\/li>\n<\/ul>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\">Before You Start<\/h2>\n\n\n\n<p>Before beginning the reconciliation process:<\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li>Go to <strong>Administration<\/strong>.<\/li>\n\n\n\n<li>Review the list of transactions for the period covered by the bank statement.<\/li>\n\n\n\n<li>Check that all known receipts and payments have been entered.<\/li>\n<\/ol>\n\n\n\n<p>Ensuring transactions are complete before reconciling will save time and make the process smoother.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\">Creating a New Reconciliation<\/h2>\n\n\n\n<ol class=\"wp-block-list\">\n<li>Go to <strong>Administration<\/strong>.<\/li>\n\n\n\n<li>Select <strong>Manage Bank Reconciliations<\/strong>. <br>This option is available under both <strong>Administration<\/strong> and <strong>Processes<\/strong>.<\/li>\n\n\n\n<li>Click <strong>New Reconciliation<\/strong>.<\/li>\n\n\n\n<li>Select the relevant bank account.<\/li>\n<\/ol>\n\n\n\n<p>You will then be prompted to:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Enter the reconciliation date<\/li>\n\n\n\n<li>Enter the closing balance shown on the bank statement<\/li>\n<\/ul>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\">Matching Transactions<\/h2>\n\n\n\n<p>The reconciliation screen will display a list of transactions.<\/p>\n\n\n\n<p>For each transaction shown on your bank statement:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Locate the matching entry in the system<\/li>\n\n\n\n<li>Tick the <strong>Cleared<\/strong> box<\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"449\" src=\"https:\/\/documentation.easypcaccounts.co.uk\/wp-content\/uploads\/2026\/03\/bank-rec-1024x449.png\" alt=\"\" class=\"wp-image-3700\" srcset=\"https:\/\/documentation.easypcaccounts.co.uk\/wp-content\/uploads\/2026\/03\/bank-rec-1024x449.png 1024w, https:\/\/documentation.easypcaccounts.co.uk\/wp-content\/uploads\/2026\/03\/bank-rec-300x131.png 300w, https:\/\/documentation.easypcaccounts.co.uk\/wp-content\/uploads\/2026\/03\/bank-rec-768x337.png 768w, https:\/\/documentation.easypcaccounts.co.uk\/wp-content\/uploads\/2026\/03\/bank-rec-1200x526.png 1200w, https:\/\/documentation.easypcaccounts.co.uk\/wp-content\/uploads\/2026\/03\/bank-rec.png 1312w\" sizes=\"auto, (max-width: 709px) 85vw, (max-width: 909px) 67vw, (max-width: 1362px) 62vw, 840px\" \/><\/figure>\n\n\n\n<p>As you tick transactions:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The system calculates the cleared balance<\/li>\n\n\n\n<li>Differences between the system and the bank statement become visible<\/li>\n<\/ul>\n\n\n\n<p>Once all relevant items have been matched and the balance agrees with the bank statement, you can complete the reconciliation.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\">If There Is a Difference<\/h2>\n\n\n\n<p>If the reconciliation does not balance:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Check for missing transactions<\/li>\n\n\n\n<li>Check for duplicated entries<\/li>\n\n\n\n<li>Check for data entry errors<\/li>\n\n\n\n<li>Confirm you are using the correct statement closing balance<\/li>\n<\/ul>\n\n\n\n<p>If you cannot resolve the issue immediately:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Save the reconciliation<\/li>\n\n\n\n<li>Return to it later once discrepancies have been investigated<\/li>\n<\/ul>\n\n\n\n<p>Partial reconciliations can be saved safely.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\">Completing the Reconciliation<\/h2>\n\n\n\n<p>When the cleared balance matches the bank statement closing balance:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Confirm the reconciliation<\/li>\n\n\n\n<li>Save the record<\/li>\n<\/ul>\n\n\n\n<p>This creates a formal record of the reconciliation for that period.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\">Reconciliation Reports<\/h2>\n\n\n\n<p>Easy PC Accounts generates two reports:<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Summary Report<\/h3>\n\n\n\n<p>Shows:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The latest reconciliation date<\/li>\n\n\n\n<li>The reconciled balance<\/li>\n\n\n\n<li>Any outstanding (uncleared) transactions<\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"830\" height=\"702\" src=\"https:\/\/documentation.easypcaccounts.co.uk\/wp-content\/uploads\/2026\/03\/Bank-rec-summary.png\" alt=\"\" class=\"wp-image-3702\" srcset=\"https:\/\/documentation.easypcaccounts.co.uk\/wp-content\/uploads\/2026\/03\/Bank-rec-summary.png 830w, https:\/\/documentation.easypcaccounts.co.uk\/wp-content\/uploads\/2026\/03\/Bank-rec-summary-300x254.png 300w, https:\/\/documentation.easypcaccounts.co.uk\/wp-content\/uploads\/2026\/03\/Bank-rec-summary-768x650.png 768w\" sizes=\"auto, (max-width: 830px) 85vw, 830px\" \/><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\">Detailed Report<\/h3>\n\n\n\n<p>Shows:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>All transactions marked as cleared<\/li>\n\n\n\n<li>Any outstanding transactions<\/li>\n\n\n\n<li>Full reconciliation details for audit purposes<\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"554\" src=\"https:\/\/documentation.easypcaccounts.co.uk\/wp-content\/uploads\/2026\/03\/Bank-rec-details-1024x554.png\" alt=\"\" class=\"wp-image-3703\" srcset=\"https:\/\/documentation.easypcaccounts.co.uk\/wp-content\/uploads\/2026\/03\/Bank-rec-details-1024x554.png 1024w, https:\/\/documentation.easypcaccounts.co.uk\/wp-content\/uploads\/2026\/03\/Bank-rec-details-300x162.png 300w, https:\/\/documentation.easypcaccounts.co.uk\/wp-content\/uploads\/2026\/03\/Bank-rec-details-768x415.png 768w, https:\/\/documentation.easypcaccounts.co.uk\/wp-content\/uploads\/2026\/03\/Bank-rec-details-1200x649.png 1200w, https:\/\/documentation.easypcaccounts.co.uk\/wp-content\/uploads\/2026\/03\/Bank-rec-details.png 1332w\" sizes=\"auto, (max-width: 709px) 85vw, (max-width: 909px) 67vw, (max-width: 1362px) 62vw, 840px\" \/><\/figure>\n\n\n\n<p>These reports provide evidence of financial control and may be required during internal or external audit.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\">Why This Matters<\/h2>\n\n\n\n<p>Regular bank reconciliation:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Protects against fraud and error<\/li>\n\n\n\n<li>Ensures financial records are accurate<\/li>\n\n\n\n<li>Supports quarterly financial reporting<\/li>\n\n\n\n<li>Demonstrates sound financial management<\/li>\n\n\n\n<li>Provides audit evidence<\/li>\n<\/ul>\n\n\n\n<p>Bank reconciliation is not just an administrative task \u2014 it is a fundamental governance control.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bank reconciliation is a critical financial control and should be carried out regularly \u2014 typically each time you receive a bank statement. This process confirms that: Full guidance on the importance of bank reconciliation can be found in Governance and Accountability for Smaller Authorities in England. If you are unfamiliar with the process, we strongly &hellip; <a href=\"https:\/\/documentation.easypcaccounts.co.uk\/index.php\/processes\/bank-reconciliation\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Bank reconciliation&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"parent":62,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-65","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/documentation.easypcaccounts.co.uk\/index.php\/wp-json\/wp\/v2\/pages\/65","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/documentation.easypcaccounts.co.uk\/index.php\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/documentation.easypcaccounts.co.uk\/index.php\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/documentation.easypcaccounts.co.uk\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/documentation.easypcaccounts.co.uk\/index.php\/wp-json\/wp\/v2\/comments?post=65"}],"version-history":[{"count":16,"href":"https:\/\/documentation.easypcaccounts.co.uk\/index.php\/wp-json\/wp\/v2\/pages\/65\/revisions"}],"predecessor-version":[{"id":3706,"href":"https:\/\/documentation.easypcaccounts.co.uk\/index.php\/wp-json\/wp\/v2\/pages\/65\/revisions\/3706"}],"up":[{"embeddable":true,"href":"https:\/\/documentation.easypcaccounts.co.uk\/index.php\/wp-json\/wp\/v2\/pages\/62"}],"wp:attachment":[{"href":"https:\/\/documentation.easypcaccounts.co.uk\/index.php\/wp-json\/wp\/v2\/media?parent=65"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}