How to reconcile bank statements

DocuClipper reconciles the statements ensuring that no transactions are missing and that they have the right amounts. This is how reconciliation works:

1. DocuClipper reads the start and end balance from the statement.

   

The balances appear on the summary table:

2. Next, DocuClipper adds up all the credits and debits in the statement.

3) If “end balance” - “start balance” is equal to “credits” - “debits” then the statement is reconciled and DocuClipper displays a blue badge:

What does it mean when the job is “not reconciled”?

Sometimes DocuClipper isn’t able to reconcile the statement. When this happens you’ll see a red badge:

Here are a couple of reasons that can prevent DocuClipper from reconciling the statement:

1. The start or end balances have been detected incorrectly.
2. DocuClipper wasn’t able to read the start or end balances.
3. Balances are correct but there are missing or wrong transactions.

Fixing errors to reconcile the statement

Watch the video at the top of the page to see the reconciliation process in action.

1. If the start or end balances are wrong or missing, you can update them by clicking on the balance and entering the correct value:

   

2. If a transaction is wrong, you can fix it by clicking on the wrong value and entering a new value. Check the box on the first column to include/exclude transactions from the output file.

   

3. If transactions are missing you can add them by clicking on “Add transaction” (left of the transaction table):

   

   Enter date, description and amount. Add a negative sign for debits.

Here’s a video version of this tutorial: