Bookkeeping
Bank and credit card reconciliation
Every bank, card and payment-processor account reconciled line by line against its statement for Canadian businesses, in QuickBooks Online, Xero or Sage 50. Finbryn traces unmatched items to a specific transaction, currency conversion or bank fee rather than forcing the balance to agree.
Bank reconciliation summary
Illustrative client · August 2026
CAD
| Account | Difference | Status | ||
|---|---|---|---|---|
| Operating account··4821 | 184,220.16 | 184,220.16 | 0.00 | Reconciled |
| Reserve account··0937 | 60,000.00 | 60,000.00 | 0.00 | Reconciled |
| Company card··1006 | (12,418.52) | (12,418.52) | 0.00 | Reconciled |
| Card processor clearing | 8,905.40 | 8,905.40 | 0.00 | Reconciled |
| Payroll clearing | 0.00 | 0.00 | 0.00 | Reconciled |
Last weekly runFri, Aug 28, every account agreed to its statement.
Two open itemsTwo card receipts requested from you, marked on the card account until they arrive.
Illustrative. An example of the document, not a client's figures.
What reconciliation actually checks
Every transaction in the ledger is matched to a line on the bank, card or payment-processor statement for the period. Where a payment lands in a different currency, such as USD receipts settling into a Canadian-dollar account, the conversion is matched at the rate the bank actually used, not an estimate.
Every account, on the same schedule
Operating accounts, savings, credit cards and processors such as Stripe or Interac e-Transfer settlements are all reconciled together each period, so the picture is complete rather than one account looking clean while another drifts.
When the balances disagree
A gap between the bank balance and the books usually traces to a specific outstanding cheque, a pending e-Transfer, a bank fee, or a timing difference. We name the cause on the reconciliation report for that account and period rather than posting a plug entry to force agreement.
Why this matters for GST/HST
Because GST and HST are coded transaction by transaction, a clean reconciliation is also what keeps the tax account accurate. An unreconciled account is one of the most common reasons a GST/HST filing ends up wrong.
Delivered monthly, reviewed before it reaches you
Every reconciliation is checked by a senior reviewer before it goes out. Pair this with monthly bookkeeping for the full close, or start with catch-up and cleanup if several months are outstanding.
What you see each month
The reconciliation report names every open item by account, so a bookkeeper reviewing the file (or a T2 preparer at year end) can see at a glance what is still outstanding and why, rather than digging through statements to rebuild the picture.
Questions
Frequently asked questions: Bank and credit card reconciliation
What happens if a transaction cannot be matched?
It stays listed as an open item on the reconciliation report until the cause is confirmed, rather than being forced to balance.
What happens with outstanding cheques or e-Transfers?
They stay tracked as outstanding on the reconciliation report until they clear, rather than being written off early.
Do you handle accounts that receive foreign currency?
Yes. Foreign-currency deposits are matched at the rate the bank actually applied, and the difference is tracked rather than absorbed into the balance.
What exactly is included in bank and credit card reconciliation?
Every transaction matched to a bank, card or processor line, and unmatched and duplicate items investigated and cleared. This work runs inside QuickBooks Online or Xero, whichever your business already has in place, and it rolls into your regular monthly close rather than sitting off to the side as a separate, unreconciled process.
What happens to our bank and credit card reconciliation records if we switch providers?
Everything stays inside your own QuickBooks Online or Xero account, so the full history transfers with the subscription, not with Finbryn. You can hand bank and credit card reconciliation to another provider or bring it in-house at any point without losing a reconciliation or having to rebuild the file first.
How many accounts can you reconcile?
As many as the business uses. Every connected bank, card and payment-processor account is reconciled on the same schedule.
What happens when the bank balance and the books disagree?
We trace the difference to a specific transaction, timing item or bank fee and note it on the reconciliation report rather than forcing the numbers to match.
What if our records for bank and credit card reconciliation are not up to date?
If your records are behind, we scope a catch-up first so bank and credit card reconciliation starts from a clean, reconciled base. That catch-up is priced and timed separately from the ongoing engagement, so you always know what each part costs.
Who reviews the work before it reaches us?
Every deliverable under bank and credit card reconciliation is reviewed by a senior reviewer before it reaches you. You keep access to the underlying file at every stage, so nothing about the work happens somewhere you cannot see it.
Related services
- BookkeepingMonthly bookkeepingOngoing monthly bookkeeping: transactions sorted into categories, accounts reconciled and month-end reports delivered in the software you already use.
- BookkeepingCatch-up and cleanup bookkeepingMonths or years of books brought up to date and reconciled, with a written record of every adjustment, so monthly bookkeeping can start from a clean base.
Industries
Next step
Talk to the team that would run your books
A short call covers your setup, your software and what a first month would look like. You get a written scope and price after it.