Reconcile a bank statement
Tick what cleared, against the statement's ending balance. When the difference reads zero, finish — and the month can soft-close.
Before you start
Reconciling does not post anything. It is the act of agreeing that your records and the bank’s say the same thing — you tick what cleared, and Pippin checks the arithmetic against the statement’s ending balance.
The difference Pippin shows is:
ending balance − (opening balance + everything you ticked)
When it reads $0.00, the two agree.
Categorize first. A transaction with no category has not been recorded yet, so ticking it as cleared would be agreeing to something the books have not said.
Steps
- Open Accounting › Banking, choose the account, and choose Reconcile.
- Enter the statement date and the statement’s ending balance.
- Tick every transaction that appears on the statement. The difference updates as you go.
- Attach the statement PDF. It stays with the reconciliation, so the evidence is where the conclusion is.
- When the difference reads $0.00, choose Finish reconciliation.
- Open Banking and choose Reconcile in the toolbar.
- Enter the statement date and ending balance, then tick what cleared.
- Finish when the difference is zero.
Good to know
The difference will not reach zero while a Stripe payout is still in transit. Money Stripe holds between a payment and its payout sits in Stripe Clearing, which is not your bank account. It lands in the feed on the day the payout does, and Stripe Clearing should return to zero after each one.
Past reconciliations, and the statements attached to them, stay in the sidebar for reference.
Reconciling is what closes a month. A Period soft-closes on its own once every account that participates has been reconciled through its end date — there is no separate closing ritual to remember. See How a Period closes.