Reconciliation Report


Run the Reconciliation Report to check if the actual bank balance and the balance of the bank account in Xero match.

Run the report from Xero's Accounting Menu or Manage Menu. The report has three tabs: the Bank Reconciliation Summary, Bank Statement, and Statement Exceptions. Move from one tab to another to compare the unreconciled items on the Bank Reconciliation Report with any outstanding, imported statement lines.

Bank Reconciliation Summary

The Bank Reconciliation Summary report is broken into sections to show what the actual bank balance is, based on the data entered into Xero on any given date. This figure is not taken from the online bank balance. It is calculated using the data in Xero.

If the transactions and reconciliation are up to date on the report date, the balance in Xero and the statement balance for that day should be the same.

Summary Report Totals Explained

TOTAL

DESCRIPTION

Balance in Xero

The sum of all bank account transactions entered in a bank account dated today or in the past.

Total Outstanding Payments/Receipts

Transactions that were entered into Xero, but not yet reconciled.

Total Unreconciled Statement Lines

Transactions imported from your online bank account (at the report date) that are not yet reconciled (or possibly not yet entered) in Xero.

Total Outstanding Payments/Receipts

Transactions that were entered into Xero, but not yet reconciled.

Statement Balance

The sum of all imported bank statements for a bank account in Xero. A difference displays if you run the report for the day the statement was imported, and the Statement balance and Balance in Xero are different.

Imported Statement Balance

Displays if an end balance has been imported for the date that the report has been run for.

If the accounts are fully reconciled but the balances don't match:

  • Cross-check the bank account transactions and imported statement lines to make sure nothing is missed or doubled.
  • Check the conversion balance to make sure that the balances loaded when Xero was first used were the exact balances of the bank account and accounts from the previous accounting system.
  • Use the Bank Statement and Statement Exceptions tabs of the Reconciliation report.

Bank Statement

This report shows:

  • A list of all statement lines downloaded for the current month by default
  • The date the item was imported from the statement into Xero
  • Whether the item was reconciled
  • Where each statement line came from (auto bank feed or manual file import from online banking)
  • It also shows all the imported statement lines for the chosen date range. Clicking the date link opens the bank statement that was imported into Xero.
  • Selecting the Reconciled Only option will show only the reconciled bank statements.

Statement Exceptions

The Statement Exceptions shows the items that do not match the normal import statement to reconcile to item in Xero process. It shows things like:

  • Items that are in Xero and are manually reconciled
  • Imported statement items that are deleted in Xero
  • Duplicates

This is a useful place to check for anomalies/inconsistencies especially if the online bank account balance do not match the balance in Xero.


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