Bank Reconciliation Template
Reconcile bank statements with your books each month.
What's Included:
- Side-by-side comparison of bank statement and book balances
- Outstanding check and deposit-in-transit tracking sections
- Reconciliation adjustment fields for bank fees, errors, and interest
- Auto-calculated adjusted balances that must match to complete reconciliation
Available Formats:
Download Free Template
Enter your email to download this template instantly. We'll also send you tips on financial management.
Bank reconciliation is the monthly process of comparing your internal records to the bank statement to catch errors, fraud, and timing differences. Every business should reconcile every bank account every month—it is the most fundamental internal control in accounting.
The most common reconciling items are outstanding checks and deposits in transit. These are legitimate timing differences that will resolve in the next period. However, if you find items that do not belong—unauthorized charges, duplicate payments, or unrecorded fees—the reconciliation process is what catches them before they compound.
How to Use This Template
Enter Ending Balances
Input the ending balance from your bank statement and the ending balance from your books (general ledger) for the same date.
List Outstanding Items
Enter outstanding checks (issued but not yet cleared) and deposits in transit (made but not yet posted to the bank). These explain the difference between the two balances.
Reconcile and Verify
Add any bank adjustments (fees, interest, errors). The template calculates adjusted balances for both sides—they must match. Investigate any remaining difference.
Frequently Asked Questions
How often should I reconcile my bank accounts?
Monthly, within a few days of receiving your bank statement. Waiting longer allows errors and fraud to go undetected. For businesses with high transaction volume, weekly reconciliation is even better. This template is designed for monthly use.
What do I do if my bank reconciliation does not balance?
Check for common errors: transposed numbers, missed transactions, duplicate entries, or bank fees that were not recorded in your books. If the difference is small and persistent, it may be a rounding issue. Never force a reconciliation to balance by adjusting without understanding the cause.
Related Financial Resources
Tired of manual spreadsheets?
FiscalInsights automates everything this template does—plus cash flow forecasting, expense categorization, and real-time insights.
Try FiscalInsights Free