Reconciling a bank statement: a quick checklist

Reconciliation just means making sure your records and the bank's records agree. It's tedious by hand but quick once your statement is in a spreadsheet. Here's the short version.

1. Confirm the opening balance

It should match the closing balance of your last statement, to the cent. If it doesn't, stop here and find out why before going further.

2. Walk the running balance

Each row's balance should equal the previous balance plus that row's amount. One wrong sign or a missed transaction throws off every row after it — this is the single most common source of reconciliation headaches.

3. Match against your own records

Cross-check the statement against your books or receipts. Flag anything you don't recognize — duplicate charges, unexpected fees, or a subscription you forgot to cancel are the usual suspects.

4. Confirm the closing balance

It should match what the bank shows as your ending balance for the period. If it does, you're reconciled.

A shortcut

If your statement is a PDF, converting it first means the running-balance check in step 2 happens automatically — BankStatementHub flags any row where the math doesn't add up, so you only have to look closely at the ones that need it.