Bank Reconciliation

Bank reconciliation is the process of matching transactions in your accounting records with transactions on your bank statement. This ensures your books are accurate and helps catch errors or missing entries.

Why Reconcile?

• Catch duplicate or missing transactions
• Identify bank fees or charges you have not recorded
• Verify that your book balance matches the actual bank balance
• Maintain accurate financial reports

How It Works in Anchor

1. Navigate to Accounting → Banking and select a bank account
2. Ensure statement lines are in your books (assign category or match invoice/bill)
3. Open Reconcile → Check a statement and set the period (start and end dates on the bank statement) plus opening/closing balances
4. Work the list for that period only (lines outside the dates are hidden)
5. Tick lines that appear on the bank statement — ticks are saved on the server while the check is in progress (safe to refresh)
6. Finish statement check when the period is done
7. Investigate any difference between statement closing balance and the bank GL balance

Importing Bank Transactions

Before reconciling, import your bank transactions:

• CSV import - Upload a CSV file from your bank
• Batch imports - Import multiple files at once

See Banking for details on importing and managing bank transactions.

Tips

• Reconcile regularly (weekly or monthly) to keep discrepancies small
• Start from the last reconciled date to avoid re-checking old transactions
• Use the unreconciled transaction list to spot items that need attention