Import or capture statements
Bring in bank statement lines or other external records using supported methods.
- Statement date, reference and amount
- Opening and closing balance checks
- File format and mapping validation
Financial reconciliation solution
Close the gap between transactions and truth.
Connect bank activity, payment records, customer receipts, supplier payments and ledger balances in a disciplined reconciliation workflow. Help finance teams identify unmatched transactions, investigate differences and document resolution before period close.
Clearer matching and exception follow-up.
Reconciliation overview Illustrative dashboard● Finance control
Items matched184Example data
Exceptions09Review
Accounts to close04Example data
RECONCILIATION QUEUE
Account / ItemDifferenceStatus
Bank accountRs 0.00Matched
Customer receiptRs 0.00Matched
Bank feeRs 2,500Investigate
Supplier paymentPendingUnmatched
Traceable resolutionKeep an exception trail
Period-end checksReview before close
The reconciliation journey
Match transactions, explain differences and resolve exceptions.
Use a consistent process to compare external records with internal transactions and account balances, rather than relying on unexplained adjustments.
Match transactions
Compare statement lines with receipts, payments and ledger activity.
- Reference, amount and date matching
- One-to-one and grouped matching where supported
- Manual review for ambiguous matches
Investigate exceptions
Identify items that do not agree and assign a clear resolution path.
- Unmatched or duplicate transactions
- Timing differences and bank charges
- Missing records and amount variances
Reconcile control accounts
Compare supporting records with general ledger balances.
- Bank and cash accounts
- Accounts receivable and payable
- Inventory and payroll control accounts where applicable
Review and approve
Keep corrections and write-offs under controlled authorization.
- Reason codes and supporting notes
- Reviewer sign-off and audit trail
- Restricted journals and write-offs
Prepare for period close
Track outstanding items and confirm reconciliations are complete.
- Reconciliation status by account
- Ageing of unresolved exceptions
- Period-end review checklist
A disciplined reconciliation process
Every difference needs an explanation—not just a journal entry.
Reconciliation is complete when balances agree or every remaining difference is documented, supported and assigned for resolution. Keep the original records intact and make corrections through approved, traceable transactions.
- ✓Establish the source: confirm statement period, opening balance and completeness.
- ✓Match known activity: link bank lines to recorded receipts, payments and transfers.
- ✓Classify differences: separate timing items, bank fees, errors and missing transactions.
- ✓Resolve with evidence: correct source records or post approved adjustments.
- ✓Review and sign off: confirm final balances and carry forward valid outstanding items.
Example reconciliation workflow Illustrative
01
Set reconciliation period
Select the account and verify statement coverage.
02
Load statement and ledger data
Validate totals, references and transaction dates.
03
Match and classify
Identify matched lines and unresolved exceptions.
04
Resolve differences
Gather evidence and obtain approval for corrections.
05
Review and finalize
Confirm balances, document outstanding items and sign off.
Connected finance controls
Reconcile the records that keep the business aligned.
Financial reconciliation is most useful when the source modules and general ledger share consistent references and posting rules.
Bank and cash
Compare statement lines with cashbook activity, transfers, receipts and payments.
Customer receivables
Compare customer invoices and receipts with receivables control balances and investigate unapplied cash.
Supplier payables
Compare supplier invoices, credit notes and payments with supplier statements and ledger balances.
Inventory valuation
Compare stock movement and valuation records with inventory control accounts.
Payroll controls
Where integrated, compare approved payroll registers, payment totals and related ledger postings.
Audit and reporting
Maintain reconciliation status, unresolved item lists and reviewer evidence for close procedures.
Control and accountability
Protect the integrity of financial records.
Use clear ownership and separation of duties for statement preparation, matching, adjustment approval and final sign-off. Avoid silently editing posted transactions to force a balance.
Suggested control checkpoints Configure to policy
A
Access and ownership
Assign account owners and limit who can approve adjustments.
B
Source completeness
Verify statement ranges, opening balances and imported totals.
C
Evidence for adjustments
Require explanations and supporting documents for corrections.
D
Carry-forward tracking
Keep timing differences visible until they clear.
E
Independent review
Review material exceptions and confirm period-end sign-off.
Want a clearer month-end reconciliation process?
Review statement imports, matching rules, control accounts, exception approvals and period-end reporting with the LaraOffice team.
Frequently asked questions
Financial reconciliation FAQs
Common questions about matching transactions and closing accounts.
What is financial reconciliation?
It is the process of comparing internal accounting records with independent records or supporting schedules, explaining differences and confirming that balances are supported.
Can bank transactions be matched automatically?
Automatic matching depends on available features and the quality of imported statement data. Confirm supported formats, matching rules, tolerance settings and the review process for ambiguous matches.
What happens to unmatched transactions?
They should remain visible in an exception queue with an owner, reason and next action. Timing differences should be tracked until cleared; errors should be corrected through authorized transactions.
Can reconciliation cover receivables, payables and inventory?
Those reconciliations require supporting reports and control-account postings to be available and consistent. Confirm the reports, references and ledger mappings in your implementation.
Does reconciliation automatically fix accounting differences?
It should not silently alter posted records. Any adjustment, write-off or reversal should follow the organization's approval policy and preserve an audit trail.
Does this page guarantee automated bank integration?
No. Bank feeds, statement imports, automated matching and integration availability depend on the deployed LaraOffice edition, supported bank formats and implementation configuration.
