Bank reconciliation for US businesses

A named person on our team owns your file and reviews everything that leaves it. Software does a real share of the grinding underneath it — coding, matching, flagging the obvious gaps — but nothing regulated happens without a person’s judgement, and nothing here is signed or filed by an algorithm.

No — bank reconciliation is operational work inside your books, not something submitted to IRS. Where a filing does sit downstream of it, inside bookkeeping & accounting more broadly, that stays with your CPA or enrolled agent, never with us.

Whatever you already run. Most commonly QuickBooks, Xero, NetSuite, Sage, Zoho Books and a handful of others — we work inside your system rather than moving you onto one of our own.

A short, free read-only look at what you already have, and a written note on what we found. A scoping call decides the size of the engagement — nothing here commits you to anything.

There is no published price for bank reconciliation — it depends on volume, how many entities are involved, and how far behind the books are. We quote after the read-only review, which is free.

Bank reconciliation sits inside bookkeeping & accounting, alongside Monthly bookkeeping, Month-end close, Catch-up bookkeeping. Most clients end up buying the category as a whole rather than one leaf at a time, but starting narrow is fine.

Almost always one of three things: a duplicate transaction from a bank-feed reconnect, a payment-processor deposit that was booked at the wrong amount (gross instead of net, or the reverse), or an item — a check, a deposit — that genuinely has not cleared yet. We trace which of the three it is rather than plugging the difference.

It is a holding account the software creates automatically for money that has not been fully classified yet — "Undeposited Funds" or "Uncategorized Expense" are the common names. A small, current balance is normal. A large or aging one means transactions were parked there instead of resolved, and we work through each one until the account is clean.

Processing fees, and any refunds or chargebacks issued in that settlement window, are subtracted before the deposit hits your bank. The gross sale, the fee, and the net deposit are three different numbers, and all three have to be recorded for the books to reconcile — recording only the deposit hides the fees and refunds entirely.

We identify them against the actual bank statement, void or remove the duplicate with a documented reason, and confirm the remaining single entry ties to what the bank shows. Every removal is logged — nothing is deleted silently.

Yes. Each processor settles on its own schedule and nets its own fees and refunds, so each gets its own clearing-account reconciliation before its net deposits are matched to the bank statement.

Anything still outstanding past one full reconciliation cycle gets flagged by name in the reconciliation report rather than carried forward silently — a stale item is a question for you or the CPA, not something we assume will resolve itself.

It will surface anything that does not match a legitimate, expected transaction, which is often how unauthorized charges first get noticed. It is not a fraud audit — the investigation and any fraud determination stay with you, once an unmatched item is flagged for you to verify.

The 1099-K reports gross payment volume before fees, refunds, and chargebacks. If your books recorded net deposits as revenue all year, the two numbers will not match, and the difference needs a clean paper trail — the gross-to-net reconciliation we build — so your CPA can explain it on the return.

Either, as long as nothing is unexplained. A reconciled account either ties to the penny or carries a documented, dated list of exactly what is still outstanding and why. A balance that is off with no explanation is not reconciled, regardless of what the software's checkbox says.

Yes — reconciling a backlog of unmatched months is part of this service. It takes longer per period than staying current does, since duplicates and stale suspense items tend to stack up the longer an account goes unreconciled, but it does not require a separate catch-up engagement to begin.