Bookkeeping
Bank and credit card reconciliation
Bank and credit card reconciliation for Hong Kong companies: every account matched line by line to its statement each month in Xero, QuickBooks Online or Zoho Books, with unmatched items investigated rather than forced to agree, so the balance your practising CPA audits is the balance actually held.
Bank reconciliation summary
Illustrative client · August 2026
HKD
| 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 28 Aug, 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.
Why line-by-line reconciliation matters here
An auditor working under the Companies Ordinance tests whether the balances in your accounts actually match what the bank and payment providers hold. A ledger that has been nudged to agree with the bank, rather than genuinely reconciled, is one of the fastest ways to turn a routine Hong Kong statutory audit into a long one with extra queries.
What we reconcile
Every bank account, credit card and payment-provider account connected to your ledger gets matched transaction by transaction against its statement each month. That covers HKD accounts, foreign-currency accounts many Hong Kong companies hold given the territory's role as a trading and holding hub, and payment processors such as Stripe or PayPal where relevant.
Handling what does not match
Where a transaction does not have an obvious match, we investigate rather than plug the difference: a bank fee not yet posted, a payment still in transit, or a duplicate entry from an earlier import. The reconciliation report for each account each period shows exactly what remains open and why, rather than a balance that simply agrees on the surface.
MPF and payroll accounts
Where MPF contributions run through a dedicated account, we reconcile that alongside your operating accounts so the 5% employer and 5% employee contributions on relevant income match what your payroll records show, before month end closes.
Where this fits
Reconciliation runs as part of monthly bookkeeping; if several periods are unreconciled at once, that is catch-up work instead. Either way, the goal is the same: a balance sheet your Hong Kong CPA can audit without first re-deriving it from statements.
Questions
Frequently asked questions: Bank and credit card reconciliation
Do you reconcile foreign-currency accounts?
Yes. Many Hong Kong companies hold accounts in more than one currency; each is reconciled in its own currency before being combined for your reports.
What happens when a balance genuinely will not tie out?
We trace it to a specific transaction, timing item or bank fee and note it on the reconciliation report rather than adjusting the books to force agreement.
How many accounts can you cover?
As many as your company operates. Every connected bank, card and payment-provider account is reconciled on the same monthly schedule.
Does this help with the statutory audit?
It is one of the first things a practising Hong Kong CPA checks. Reconciled accounts, with an audit trail on any open item, shorten the audit rather than lengthen it.
What happens if we cannot get our bank to release a missing statement?
We reconcile as far as the available statements allow and log the gap clearly rather than estimate a balance, so your auditor sees exactly which period is affected and why, instead of a figure that looks complete but is not.
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.