Bank Reconciliation

Finance > Bank Accounts > Bank Reconciliation

Bank Reconciliation

Match imported bank transactions with your recorded transactions in DiverDash. Reconciliation confirms that your books match your bank's records.

Prerequisites

• FINANCE_MANAGE permission to reconcile bank accounts.

• A bank account with imported statements.

• Transactions recorded in DiverDash for the reconciliation period.

Overview

Bank reconciliation is the process of comparing your bank's records with your DiverDash records. The goal is to confirm that every transaction in your bank statement has a matching entry in your books, and vice versa.

Bank Statement          DiverDash Ledger
     |                       |
  Import  --->  Match  <---  Review
                  |
          Difference = $0.00
                  |
            Complete

Regular reconciliation catches errors, missing transactions, and unauthorized charges early.

Pro Tip: Reconcile monthly, ideally as soon as you receive your bank statement. Regular reconciliation catches errors and unauthorized charges early.

Starting a Reconciliation

1. Navigate to Finance > Bank Accounts.

2. Click the bank account you want to reconcile.

3. Click Reconcile.

4. Enter the Statement Date (the closing date on your bank statement).

5. Enter the Statement Ending Balance (the closing balance on your bank statement).

6. Click Start Reconciliation.

The Reconciliation Screen

The reconciliation screen shows two lists side by side:

• Bank Transactions: Transactions from your imported bank statement.

• System Transactions: Transactions recorded in DiverDash for this bank account.

Each transaction displays the date, description, and amount.

The screen also shows:

• Statement Balance: The ending balance from your bank statement.

• Cleared Balance: The total of matched transactions in DiverDash.

• Difference: The gap between the statement balance and cleared balance. This must reach zero to complete reconciliation.

Matching Transactions

1. Find a bank transaction and its corresponding system transaction.

2. Click Match to link them.

3. The matched pair moves to the reconciled section.

4. Repeat for all transactions.

DiverDash may auto-suggest matches based on date and amount. Review suggestions before accepting them.

Handling Unmatched Transactions

Bank Transaction with No System Match

This means the bank has a transaction you have not recorded in DiverDash.

• Click Create Transaction next to the unmatched bank item.

• Enter the account and details.

• Save. The new transaction is matched automatically.

Common causes: bank fees, interest charges, automatic debits.

System Transaction with No Bank Match

This means DiverDash has a transaction that does not appear in the bank statement.

• The transaction may not have cleared the bank yet. Leave it unmatched for now.

• If the transaction is an error, void it.

• Check the transaction date. It may fall in the next statement period.

Completing the Reconciliation

1. Continue matching until the Difference reaches zero.

2. Review all matched transactions one final time.

3. Click Complete Reconciliation.

4. The reconciliation is saved. Matched transactions are marked as reconciled.

Viewing Past Reconciliations

1. Navigate to Finance > Bank Accounts.

2. Click the bank account.

3. View the reconciliation history. Each past reconciliation shows the date, statement balance, and status.

Tips

• Reconcile monthly, ideally as soon as you receive your bank statement.

• Start with the oldest unreconciled period and work forward.

• Do not force matches. If a transaction does not match, investigate the discrepancy.

• Use the Create Transaction feature for bank charges and fees you did not record manually.

• Keep the reconciliation difference at zero before completing. A non-zero difference means something is unaccounted for.

Troubleshooting

Problem	Solution
Difference is not reaching zero	Check for missing transactions in DiverDash. Look for duplicates or incorrect amounts. Verify the statement ending balance is correct.
Duplicate matches	Unmatch the incorrect pair and re-match to the correct transaction.
Transaction amounts do not match exactly	Check for rounding differences. Verify the transaction was recorded with the correct amount in DiverDash.
Cannot complete reconciliation	The difference must be exactly zero. Resolve all discrepancies before completing.
Old transactions still unreconciled	Import the bank statement for the period covering those transactions and reconcile from the oldest period first.

Related Pages

• Bank Accounts Overview

• Adding a Bank Account

• Importing Bank Statements

• Transactions

• Finance Overview

Next Steps

• Review Financial Reports to see how reconciled transactions feed into your Profit and Loss, Balance Sheet, and Cash Flow Statement.