Reconcile your bank and card accounts
Check that your books match your bank: review each statement line, confirm suggested matches, and tie each account to its statement.
What reconciling means
Reconciling checks that your books agree with your bank. Every line on the statement should be in your books once, and the balance in Sumqo should match the balance printed on the statement.
Upload the statement for the period first. Reconciling works on the lines Sumqo already has.
Let Sumqo suggest the matches
- Open Reconcile in the sidebar. Do not see it? Turn on Reconciliation in Settings → Modules (a personal workspace starts without it).
- Choose a year if you like, then click "Reconcile with AI". Sumqo compares your bank lines with your invoices, expenses, income and receipts.
- Sure matches confirm themselves. The rest wait under "To confirm".
- Select the matches that look right and click "Confirm selected", or click "Not these" to turn them down.
Reconcile an account to its statement
- Go to Banking, open the account and click "Reconcile".
- Enter the "Statement ending date" and the "Statement ending balance" (for a card, the statement balance owed), then click "Start reconciling".
- Under "Before you finish", review any lines that are still not in your books.
- When the Difference shows Balanced, click "Finish reconciliation".
This works for any account in Banking, even when the Reconcile page is turned off.
Tip: Not done yet? Click "Save for later" and come back. You can also export a finished reconciliation as PDF, Excel or CSV for your accountant.
If it does not balance
- Check that every statement for the period is uploaded. The account page warns about missing months.
- Look for duplicates: a line that is both added from the bank and typed by hand counts twice.
- Check the ending balance you typed against the statement, including the sign for a card.