Bank Reconciliation › Help › Using it

How to reconcile your bank statement

Each month, compare the bank statement with your own entries. Missing bank charges, uncleared cheques and forgotten receipts show up at once.

Step by step

1. Download the statement. From net banking as Excel or CSV for one month, or type lines from a passbook.
2. Open it here. The date, details, cheque number, withdrawal, deposit and balance columns are found by themselves.
3. Check the matches. Same-amount lines are matched with saved entries, cheque numbers first, then the nearest date.
4. Deal with what is left. Add bank charges as an expense, add money received from a party, or match a line by hand.
5. Mark cheques cleared. Cheques found in the statement are marked cleared on the bank date with one press.
6. Save and print. Type the closing balance from the statement; the difference should be zero.

Worked example

October: the statement closes at ₹41,000, your bank book at ₹41,218, a difference of ₹218. Unmatched lines: SMS charges ₹118 on the statement (not in your books) and your cheque of ₹100 to a supplier, entered by you but not yet presented. Add the ₹118 as an expense: your book becomes ₹41,100. The ₹100 cheque explains the rest: reconciled.

Common mistakes and how to fix them

• Matching by date only. Match by amount and cheque number first.

Related help

All help on Bank Reconciliation · Help for the Nivesh Sahayak App