Match your accounting records with bank statements to ensure accuracy.
SyncBooks Balance
Bank Statement
Difference: $25.00
SyncBooks shows $27,780.00 but bank shows $27,755.00
Investigation:
✓ Found: Bank service fee of $25.00 not recorded in SyncBooks
✓ Action: Add bank fee transaction
Debit: Bank Fees $25.00 | Credit: Checking $25.00
✓ Reconciled!
New SyncBooks balance: $27,755.00 matches bank statement
Checks written but not yet cashed
Solution: Mark as uncleared, will reconcile next month
Deposits recorded but not yet in bank
Solution: Mark as uncleared, will appear on next statement
Service charges, wire fees, overdraft fees
Solution: Add as expense transaction
Interest earned on account
Solution: Add as income transaction
Same transaction recorded twice
Solution: Delete or void duplicate transaction
Best Practice: Reconcile accounts within 10 days of receiving statements for accurate financial reporting.