Why Reconcile?

Reconciliation verifies that your BeeKeeper records match your bank statement. It catches:

• Missing transactions: Something the bank shows that you haven’t recorded
• Data entry errors: Amounts entered incorrectly
• Unauthorized charges: Transactions you don’t recognize
• Timing differences: Checks written but not yet cashed

Monthly reconciliation is essential for accurate bookkeeping and is often required for audits.

Accessing Reconciliation

1. Go to Bookkeeping from the sidebar
2. Select a bank account (e.g., “Checking Account”)
3. Click the Reconcile tab

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

Starting a New Reconciliation

Before you begin, gather your bank statement. You’ll need:

• Statement ending date
• Statement ending balance

To start:

1. Click New Reconciliation
2. Enter the Statement Date (the ending date on your bank statement)
3. Enter the Statement Balance (the ending balance on your bank statement)
4. Click Start

BeeKeeper automatically fills in your beginning balance from the previous reconciliation (or $0.00 if this is your first).

Marking Cleared Transactions

The reconciliation screen shows all uncleared transactions for this account. Compare each one to your bank statement:

1. Check the box next to each transaction that appears on your bank statement
2. The running balance updates with each selection
3. Your goal is to reach a $0.00 difference between the calculated balance and your statement balance

Investigating Differences

If your difference isn’t $0.00:

• Positive difference: BeeKeeper shows less than the bank. Look for deposits or credits you haven’t recorded.
• Negative difference: BeeKeeper shows more than the bank. Look for charges, fees, or debits you haven’t recorded.

Common causes:

• Unrecorded bank fees or service charges
• Checks that haven’t cleared yet (these are OK — don’t check them)
• Missing interest or dividend entries
• Incorrect amounts on journal entries
• Transactions recorded in the wrong account

Completing Reconciliation

When the difference reaches $0.00:

1. Click Complete Reconciliation
2. All checked transactions are marked as cleared with timestamps
3. The reconciliation is saved for your records

Best Practices

• Reconcile monthly within a few days of receiving your bank statement
• Follow a consistent routine: review the statement, start reconciliation, work line-by-line, investigate discrepancies
• Export a PDF of each completed reconciliation for your records
• Keep documentation for audits and board meetings
• Don’t skip months — catching up is much harder than staying current

Common Questions

What if I can’t find a transaction? You may need to create a journal entry for the missing transaction (e.g., a bank fee), then return to reconciliation and check it off.

Can I delete a reconciliation? Completed reconciliations cannot be deleted. If you made an error, start a new reconciliation for the corrected period.

What about outstanding checks? Leave uncashed checks unchecked. They’ll appear in future reconciliations until they clear.

How do I reconcile a credit card? The same way — go to your credit card account in Bookkeeping, click Reconcile, and use your credit card statement balance and date.