Bank Reconciliation

Why Reconcile?

Reconciliation is how you verify that your BeeKeeper records match your bank statement. It catches:

• Missing transactions: Something the bank shows that you haven’t recorded
• Data entry errors: Typos in amounts or dates
• Unauthorized charges: Unexpected bank fees or fraudulent transactions
• Timing differences: Checks written but not yet cashed

Monthly reconciliation is one of the most important tasks for a treasurer. It ensures your books are accurate and your organization’s money is accounted for.

Accessing Reconciliation

1. Go to Accounts from the main menu
2. Select the bank account you want to reconcile
3. Click the Reconcile tab

The Reconcile tab is only available for bank accounts (checking, savings, etc.), not for income or expense accounts.

Starting a New Reconciliation

Step 1: Gather Your Bank Statement

Before starting, have your bank statement ready. You’ll need:

• Statement ending balance: The final balance shown on the statement
• Statement date: The last day covered by the statement

Step 2: Create the Reconciliation

1. On the Reconcile tab, click New Reconciliation
2. Enter the Statement Date (e.g., January 31)
3. Enter the Statement Balance (the ending balance from your bank statement)
4. Click Start

BeeKeeper shows you the beginning balance (from your last completed reconciliation) automatically.

Step 3: Mark Cleared Transactions

The reconciliation view shows all unreconciled transactions for the account:

1. Compare each transaction in BeeKeeper to your bank statement
2. Click the checkbox next to transactions that appear on the statement
3. Each time you check a transaction, the running balance updates
4. Watch the Difference amount - your goal is to get it to $0.00

BeeKeeper automatically marks previously cleared items when you start, saving you time on transactions that were already reconciled.

Step 4: Investigate Differences

If the difference isn’t zero after marking all statement items:

• Positive difference: BeeKeeper has less than the bank. Look for deposits you haven’t recorded.
• Negative difference: BeeKeeper has more than the bank. Look for charges you haven’t recorded (fees, automatic payments).

Common reasons for differences:

Step 5: Complete the Reconciliation

When the difference is $0.00:

1. Click Complete Reconciliation
2. The reconciliation is saved as completed
3. All checked transactions are marked as cleared with a timestamp

If the difference reaches zero automatically, BeeKeeper may auto-complete the reconciliation for you.

Viewing Reconciliation History

To see past reconciliations:

1. Go to the bank account’s Reconcile tab
2. View the list of completed reconciliations with:
   • Statement date
   • Statement balance
   • Completion date

Click any completed reconciliation to see its details (read-only after completion).

Exporting Reconciliation History

Generate a PDF of your reconciliation history:

1. Go to the Reconcile tab
2. Click Export
3. A PDF downloads with your reconciliation history

This is useful for audit documentation and board records.

Deleting an In-Progress Reconciliation

If you started a reconciliation by mistake:

1. Open the in-progress reconciliation
2. Click Delete
3. Confirm the action

You can only delete reconciliations that are still in progress. Completed reconciliations cannot be deleted.

Reconciliation Best Practices

Reconcile Monthly

• Start within a few days after receiving your bank statement
• Don’t let multiple months pile up
• It’s much easier to find discrepancies when reviewing one month at a time

Follow a Routine

1. Download or review your bank statement
2. Start the reconciliation in BeeKeeper
3. Work through the statement line by line
4. Investigate any differences immediately
5. Complete the reconciliation
6. Save a PDF copy for your records

Keep Records

• Export reconciliation PDFs for each month
• Include in board meeting packets
• Store for audit preparation

For New Treasurers

If you’re taking over mid-year:

1. Ask the outgoing treasurer for the last reconciled balance
2. Enter it as your starting point
3. Begin reconciling from where they left off

Tips

• Start with the easy ones: Check off obvious matches first (regular deposits, recurring payments)
• Use the bank tab first: Review and accept all imported transactions before reconciling
• Check date order: Work through the statement chronologically
• Don’t force it: If something doesn’t match, investigate rather than skipping
• Round numbers: If you’re off by a round amount ($10, $25, etc.), look for a missed bank fee or small transaction

Limitations

• Can only reconcile bank-type accounts (assets and liabilities)
• One reconciliation at a time per account
• Cannot edit completed reconciliations
• Beginning balance comes from the previous reconciliation (or $0 if first time)
• Statement date must be after the previous reconciliation’s statement date

Common Questions

What if I’ve never reconciled before? Your first reconciliation starts with a beginning balance of $0 (or your opening balance). You may need to mark many historical transactions as cleared.

What if I’m off by a small amount? Check for bank fees, interest, or rounding differences. Even small discrepancies should be resolved - they compound over time.

Can I reconcile a credit card? Yes, the process is the same. Use your credit card statement balance and date.

What if a check hasn’t cleared? Leave it unchecked. It will appear in next month’s reconciliation when it clears.

How far back should I reconcile? Ideally from when you started using BeeKeeper. If that’s not practical, start from the current month and work forward consistently.

What does “cleared” mean? A cleared transaction has been verified against your bank statement. It means both your records and the bank agree on that transaction.

Can multiple people reconcile at the same time? Only one reconciliation can be in progress per account. Coordinate with your team to avoid conflicts.