Reconciliation ensures your records match the bank’s. Import errors or missing entries cause mismatches.
| Item | Action |
|---|---|
| Outstanding checks | Normal — reconciles when cashed |
| Bank fees | Add to CONTPAQi |
| Interest earned | Add to CONTPAQi |
| Amount errors | Correct the entry |
It compares your recorded transactions (checks, deposits, transfers) with the bank statement to identify differences: unrecorded fees, outstanding checks, or amount errors.
Common causes: outstanding checks, unrecorded bank fees, data entry errors, or duplicate entries.
Download in OFX format (preferred), QIF, or CSV from online banking. Import via Bancos > Import Statement.
Bank fees need manual entry. Outstanding checks reconcile next month. Amount differences need correction.