Billing & Account

How to Reconcile Transactions with Bank Statements

Reconcile Local Business Pro transactions with your bank statements. Match deposits and identify discrepancies for accurate books.

intermediate 5 min read transactions reconciliation bank accounting
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Quick Answer: Set the date range to match your bank statement period, filter by Completed status, compare the Total Revenue to your bank deposits, and investigate any discrepancies.

Reconciliation Process

  1. Navigate to Payments > Transactions
  2. Set the date range to match your bank statement period
  3. Filter by Status: Completed
  4. Note the Total Revenue amount from the stats
  5. Compare to the deposits shown in your bank statement
  6. If amounts differ, review individual transactions
  7. Look for failed or pending transactions that explain the difference

Common Reconciliation Differences

  • Processing fees - Bank deposits are net of fees
  • Timing differences - End-of-period transactions may appear in next period
  • Failed transactions - Attempted payments that didn't complete
  • Refunds - Money returned to customers

Frequently Asked Questions

Q: How often should I reconcile?
A: Weekly reconciliation catches issues early. At minimum, reconcile monthly.

Q: What if I can't find a discrepancy?
A: Check for transactions that span the period boundary, then contact your payment processor for deposit details.