Monthly Bookkeeper Checklists

What This Helps You Do

A bank statement shows $8,420, but your books show $9,115. Reconciliation finds the $695 difference before it affects cash decisions, taxes, or payroll.

Use this checklist each month for every bank account and credit card. It is built for bookkeepers and owners who need to find timing errors, missing transactions, duplicate entries, and incorrect fees without reviewing the entire ledger from scratch.

The Three-Match Reconciliation Loop keeps the review focused:

• Match the statement balance.
• Match each transaction.
• Match the difference to a documented cause.

A completed reconciliation gives you a clear ending balance and a short explanation for every item that does not clear.

Before You Start

Gather the records for the same statement period. Do not compare a March statement with transactions entered through April 10 unless you clearly mark the timing difference.

• Download the complete bank statement as a PDF.
• Download the transaction detail as a CSV.
• Open the bookkeeping software.
• Collect credit card statements for the same dates.
• Gather deposit slips and payment processor reports.
• Gather loan, transfer, and fee records.
• Confirm the statement ending date.
• Confirm the statement ending balance.
• Note outstanding checks and deposits.
• Save the prior month’s reconciliation report.

Use one reconciliation worksheet per account. Record the account name, statement period, statement ending balance, book balance, difference, and reviewer initials. A simple worksheet prevents notes from being scattered across email, bank portals, and accounting software.

Check the opening balance before reviewing current activity. If the opening balance does not match the prior reconciliation, stop and fix that issue first. A wrong opening balance makes every current-month comparison unreliable.

Set a cutoff date for transactions. For example, reconcile the business checking account through March 31, then separately review deposits dated April 1 through April 5 that relate to March sales. This separates a real omission from a normal bank-processing delay.

Use the same account name in the books and the bank records. If the books contain “Operating Checking” and the bank portal contains “Business Checking ending 4821,” record both names on the worksheet. This avoids reconciling the wrong account.

Checklist Items

Set the Reconciliation Point

☐ Select the correct bank or credit card account.

☐ Enter the statement start date.

☐ Enter the statement ending date.

☐ Enter the statement ending balance.

☐ Confirm the prior reconciliation date.

☐ Confirm the prior reconciliation ending balance.

☐ Compare the current opening balance.

☐ Save the statement in the monthly records folder.

☐ Record the preparer and completion date.

The statement ending date controls the review. For a statement ending March 31, include transactions that cleared through March 31, even if you entered them in the books on April 2. Do not force April activity into March simply because it relates to March work.

Match the Statement Balance

☐ Open the account reconciliation screen.

☐ Enter the statement ending balance.

☐ Enter the statement ending date.

☐ Compare the beginning balance to the prior report.

☐ Review the cleared balance.

☐ Compare the book balance to the bank balance.

☐ Record the difference before changing entries.

☐ Confirm the difference reaches zero.

The target is a zero difference, not merely a close number. A $3.25 difference may be a bank fee, but it still needs a recorded transaction and supporting detail. Do not use an unexplained adjustment to make the screen show zero.

For a credit card, compare the statement balance as a liability. A payment to the card should reduce the credit card balance and appear as a payment from the bank account. It should not be recorded as a new expense.

Match Deposits and Credits

☐ Match each deposit to the bank statement.

☐ Match each deposit to the sales record.

☐ Confirm the deposit date.

☐ Confirm the deposit amount.

☐ Review deposits grouped from undeposited funds.

☐ Compare processor payouts to settlement reports.

☐ Identify deposits missing from the books.

☐ Identify deposits recorded twice.

☐ Confirm bank fees deducted from processor payouts.

A payment processor may deposit $970 after collecting $30 in fees from a $1,000 customer payment. The books should show the $1,000 sale, the $30 processing fee, and the $970 bank deposit. Recording only the deposit understates both sales and fees.

Check deposits that cross month-end. A $2,400 customer payment recorded on March 31 may not clear the bank until April 1. Keep it in March if the books support that date, then list it as an outstanding deposit on the reconciliation.

Match Checks, Payments, and Withdrawals

☐ Match each check to the statement.

☐ Match each electronic payment to the statement.

☐ Confirm the payee name.

☐ Confirm the payment amount.

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