Free Bank Reconciliation Template in Excel

bank reconciliation template

This makes sharing the reconciliation results and collaborating on the template for further actions and decision-making a challenge. Streamline workflows with our pre-configured solutions for all your standard and specialized reconciliations. Our software tracks every submission and times stamps them for improved accuracy. Provide your auditors with the detailed audit trail reports they need. Lastly, the COUNTIF function recognizes multiple or duplicate records of the same transaction. It does this by counting every transaction that meets the criterion.

See which accounts need review and reconciling, track account balances and reconcile amounts. Increase the speed of bank reconciliation by using a Vena Bank Reconciliation Template. We designed our templates to streamline accounting tasks and ensure report accuracy. Companies usually deposit all collections in bulk with banks as it isn’t feasible to deposit them into the bank individually.

bank reconciliation template

How often you need to reconcile the account may depend on how frequently it is used. Bank reconciliation Excel templates tend to hang as the number of records increases. They also have limitations on the number of transactions they can process at a time and on archiving and storing the reconciliation records. Accounting professionals use formulas or functions to find transactions, such as outstanding checks. VLOOKUP, SUMIF and COUNTIF are the three reconciliation Excel formulas. However, they are often quite generic and time-consuming to personalize for your organization’s needs, which is why so many companies look for SaaS solutions.

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Get a central database that integrates with your ERP, GL systems and the rest of your existing tech stack. Once you have labeled your fields, you need to set them—using formulas—to ensure accurate data collation. Additionally, COUNTIF adds the number of times values exist in any given range. Unfortunately, these CSV versions will offer more fields than you need to include in your template.

They offer pre-configured templates for various accounting functions and finance tasks. Several programs offer templates you can pay for and use to reconcile your bank statements. This process is typically performed monthly for efficiency and to prevent errors from carrying over from one month or year to the next. Accounts payable reconciliation may be done manually or with software, depending on the size of your business and accounting needs. Bank reconciliation templates in Excel don’t have features to support financial reporting and auditing.

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Has your business outgrown Excel-based bank reconciliation templates? HighRadius offers automation solutions for the office of the CFO. Our free, customizable bank reconciliation Excel template helps you match financial data on your bank statement and cash book and identify mismatches and erroneous entries. Use this template to track accounts payable transactions, including supplier names, invoice numbers, amounts due, and completed payments.

  • The template also shows the ending cash position so that you can quickly see if it reconciles with your balance sheet.
  • It can help make the process far less painful and much more accurate, and will even do some of the clerical work for you.
  • Fill out the top portion of the bank reconciliation worksheet.
  • Bank reconciliation is the process of matching data from cash books with the corresponding data on bank statements.
  • Save the data and store a copy in the company’s central database to ensure those who need it can access your reconciliation.
  • With these, you can even identify the errors much easily.

Then, enter each charge amount along with dates and account numbers. This template can be used for travel, entertaining clients, or other authorized business expenses. Make sure that your credit card statement matches the transactions reported on the reconciliation template. While most people are familiar with spreadsheets and Excel, they are not the best tools for bank reconciliation. Bank reconciliation Excel templates have limitations in speed, the number of transactions that can be processed, real-time data matching, and scalability. You can set functions in your Excel template to automatically reconcile banks with functions such as VLOOKUP, SUMIF and COUNTIF.


In such a situation when you don’t get matching numbers, just subtract the smaller number from the bigger one. If the resulting number is divisible by 9, it means you have altered the number while recording, for example, recorded 24 instead of 42. This makes software solutions more efficient than Excel templates for bank reconciliation. Want to make sure about your account credits by reconciling the bank account data? Here is your destination reconciliation template that you can utilize to balance your checkbook in accordance with your bank statement in word.

With these, you can even identify the errors much easily. Mostly, these are available in Excel format and thus it is quite easy to add or remove entries in these templates. You can also explore various bank statement templates, settlement templates, and a lot more online for free. While reconciling your bank account statement and checks, there might be situations when your records and your bank statement balance don’t match each other.

Petty Cash Reconciliation Template

The Adjusted Bank Statement Balance and the Adjusted Check Register should equal. Check out this bank reconciliation template available in Excel format to help you verify and control the flow of capital that is entering and leaving your bank account. You can easily compare your own records with the ones listed on your bank account statement format. Quickly organize your bank reconciliation process by utilizing this daily bank reconciliation template that lets you enter bank deposits as well as withdrawals. With this sample template, you can easily compare the balances with your bank statement.

Sort each row from the spreadsheet through unmatched transaction columns. Reconciling an accounts payable (AP) account involves matching the general ledger balance with the AP subsidiary ledger (or other record showing AP transactions). If the two ledgers match up, the accounts are reconciled.

Eliminate common reconciliation errors with templates designed by finance professionals for finance professionals. Download any of our free Excel templates to see how Vena can help streamline your entire finance department. Compare the data to ensure you account for every transaction and finalize your report. Save the data and store a copy in the company’s central database to ensure those who need it can access your reconciliation. Reconciling accounts on a regular basis can help to maintain an efficient process, reduce errors in the long run, and limit the stress of dealing with financial discrepancies. The first thing you will need to do is label all fields in the rows and columns.

Note that checks 90 days or older are to have a stop payment placed in US Bank SinglePoint. Total amount of replenishment that needs to be requested from Cash Management to replenish the bank account. Note that replenishments are to be completed at least every 90 days or sooner. If you still want to create a template in Excel, we have some suggestions for creating a bank reconciliation template. This comprehensive cash flow template allows you to view a breakdown of total receipts, payments, and expenses on a daily basis.

If not, the two ledgers need to be compared closely to identify errors such as missing or incorrect entries. Reconcile a business credit card account with transaction receipts, and create an expense report for documentation. Edit the template to include business expenses that need to be tracked.

Bank Reconciliation Template

For visualization, the template directs all connected data to the model for immediate analysis. Without a template, reconciliation often requires a lot of effort due to a lack of format consistency. This bank reconciliation statement template shows you how to calculate the adjusted cash balance using the bank statement and a company’s accounting record. Check out this monthly bank reconciliation template and utilize it to balance your bank statement every month. It will make it easy for you to analyze and adjust the differences in your accounting.

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