How to Reconcile Balance-Sheet Accounts

Reconciliation confirms that GL balances match supporting detail: bank statements, sub-ledger reports, third-party confirmations, or internal schedules. In DualEntry, you reconcile accounts through a single workpaper-style interface that tracks status, stores evidence, and carries forward unreconciled items: the same interface for every account, bank or otherwise.

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Any GL account can be reconciled

Reconciliation is not limited to bank and credit-card accounts. You can reconcile any GL account (clearing accounts, crypto wallets, deferred revenue, intercompany, accrued liabilities, prepaids, and so on) against a manually entered statement balance and date. DualEntry compares the reconciled entries to the balance you enter and marks the reconciliation complete when the two agree. The mechanics are the same for every account: enter a statement date and statement balance, select which GL entries clear against that balance, and DualEntry computes the difference. When the difference is zero, the reconciliation status flips to Reconciled. What differs by account type is only the automation on top:

• Bank and credit-card accounts get transaction-level matching against the imported bank feed from Bank Match, DualEntry’s separate matching engine. See Bank accounts and Bank Match below for how that shows up here.
• AP and AR control accounts use the same manual worklist as any other account, with debits and credits netted according to the account’s normal balance side.
• All other accounts reconcile manually: you select the entries that make up the statement balance, with no auto-grouping. This is the mode used for clearing, crypto, deferred, intercompany, AP, AR, and any other non-bank balance-sheet account.

A reconciliation is bound to one account, one company, and one statement date, and each account can only have one open (non-reconciled) reconciliation at a time.

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Create a reconciliation

1. Navigate to Close Management → Close Workflows → Reconciliation and select New reconciliation.
2. Choose the Company and Account.
3. Enter the Statement Date, Statement Account Balance, and Currency.
4. Attach the supporting statement or confirmation, if you have one.
5. Select Start Reconciling. DualEntry opens the reconciliation and populates it with the account’s unreconciled GL transactions.

If a prior reconciliation exists for the account, the form also shows the Statement Beginning Balance and Last Reconciled Date carried forward from it.

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Work through the reconciliation

While a reconciliation is open, you see a worklist of the account’s transactions with two things to work through:

• Matched Status: shows whether each transaction has already been matched (for bank accounts, this comes from Bank Match; see below).
• A selection checkbox for including a transaction in this reconciliation.

Use the action bar to work through the list quickly:

• Clear all: deselect everything.
• Reconcile all matched: select every transaction Bank Match already matched, in one action.
• Reconcile all: select everything in the worklist.

The header tracks your progress as you select: Statement Account Balance, Reconciled Balance, Recon Difference, Beginning Balance, Reconciled Debits, Reconciled Credits, Not Reconciled, General Ledger Balance, and Variance - GL vs Bank. Your goal is to select the set of transactions that drives Recon Difference to zero.

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Complete a reconciliation

Once Recon Difference is zero, select Save. The reconciliation’s status changes to Reconciled, and DualEntry takes you to the read-only view of it. There’s no separate sign-off or certification step on the reconciliation itself. If your organization tracks who prepared and reviewed the work, do that through a Close Checklist task for the account (see the note in Create a reconciliation) rather than looking for an approval button here.

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Review a completed reconciliation

A reconciled account’s reconciliation opens in a read-only Summary and Detail view:

• Summary shows Statement Beginning Balance, Cleared Deposits and Other Credits, Cleared Checks and Payments, Statement Ending Balance, Difference, Uncleared Deposits and Other Credits, Uncleared Checks and Payments, General Ledger Balance, and Variance from Statement Account Balance.
• Detail lists every transaction grouped into Cleared deposits and other credits, Cleared checks and payments, Uncleared deposits and other credits, and Uncleared checks and payments, with subtotals for each group.

To start the next period, select Create New Reconciliation from this view. DualEntry carries the ending balance forward as the new reconciliation’s beginning balance. You can’t start a new reconciliation for an account on the same day its prior one was completed; try again the next day.

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Bank accounts and Bank Match

For bank and credit-card accounts, Bank Match (DualEntry’s separate matching engine) runs against the imported bank feed before you open the reconciliation, applying rules first and then Bank Match AI suggestions. Nothing is applied automatically: everything Bank Match matches still shows up here as a transaction with Matched Status: Matched, ready for you to include with Reconcile all matched. Anything left unmatched needs your manual review like any other transaction. If you’re setting up bank matching rules or reviewing an AI-suggested match for the first time, start with Your First Bank Match.

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Recording adjustments

Bank fees, interest income, and other items that appear on your statement but not in your ledger need a correcting journal entry before they can be selected in the reconciliation. Post a standard journal entry for the missing item, or let the AI Copilot propose one, since it can draft a reconciling entry from the transaction context. Once posted, the entry appears in the reconciliation worklist like any other transaction and you can select it as part of driving the difference to zero.

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Reconciliation history

Every completed reconciliation is stored under the History tab of Close Management → Close Workflows → Reconciliation, with the account’s statement date, company, account, statement balance, status, and last modification date. Attachments and period-lock status show as indicators on each row. You can delete a reconciliation from its row menu if you need to redo it.

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Dashboard

The Overview tab gives a single view of every account’s reconciliation status: GL Account, Current GL Balance, Last Reconciled Balance, Variance, Last Rec. Statement Date, and Last Reconciled By. After reconciling your balance-sheet accounts, you have documented evidence that GL balances agree to supporting detail. The completed reconciliations feed into the close checklist and support flux analysis by confirming that the balances under review are accurate.