Reconcile a bank account

Reconciling is how you prove your books match your bank. You compare every cleared transaction in PeakBooks against the same transaction on your bank statement, and confirm the ending balance matches. Done monthly, it catches missed transactions, duplicates, and data-entry errors before they pile up.

Before you start

• You need the bank statement for the month you're reconciling — PDF or online view both work, you'll just refer to it for the beginning balance, ending balance, and ending date.
• Every transaction in the period should already be in PeakBooks. If you use Plaid, this is automatic. If you use CSV, upload the latest statement first.
• It helps (but isn't required) to categorize everything first. You can reconcile with uncategorized rows; the totals are based on amounts, not categories.

Start a reconciliation

1. Click Reconcile in the sidebar.
2. Pick the account you're reconciling.
3. Enter the beginning balance (from the top of your statement), the ending balance (from the bottom), and the statement ending date.
4. Click Start reconciliation. PeakBooks shows every uncleared transaction in the account up to that date.

Mark cleared items

Each row has a checkbox in the Cleared column. Walk down your bank statement, find each item in the PeakBooks list, and tick its checkbox.

The top of the reconcile view shows a live summary:

• Cleared balance — beginning balance plus everything you've ticked
• Statement balance — what you entered as the ending balance
• Difference — should reach $0.00 when you're done

Sorting and searching

Click any column header to sort by date, description, or amount — sorting by amount makes it easy to find a specific charge from your statement. The search box at the top filters by description.

Find similar

Stuck on a $42.50 charge that looks like a duplicate? Click the row's ⋯ menu and choose Find similar. PeakBooks surfaces other rows with the same amount, the same vendor name, or close-by dates — quick way to spot accidental duplicates.

When the difference won't go to zero

If you've ticked every item from the statement and the difference still isn't $0.00, something's off. Common causes, in rough order of likelihood:

• A missing transaction — a charge on the statement that isn't in PeakBooks. Add it manually via Transactions  ›  Add transaction, then come back to the reconcile view.
• A duplicate — the same charge entered twice. Delete one (or merge with Find similar).
• Wrong amount — most often happens with manually-entered transactions or split CSVs. Click the row to edit and fix it.
• Wrong sign — a charge entered as a credit, or vice versa. Edit and flip the sign.
• Wrong account — the transaction landed in the wrong PeakBooks account. Move it via the row's ⋯ menu  ›  Change account.
• Wrong beginning balance — if this is your first reconciliation for the account, double-check the opening balance you entered when you created the account.

Finish the reconciliation

When the difference reads $0.00, the Finish reconciliation button activates.

1. Click Finish reconciliation.
2. Confirm the prompt. PeakBooks marks every cleared row as reconciled and records the reconciliation date.
3. The view returns to the Reconcile dashboard with the finished reconciliation showing as locked.

Unlocking a reconciliation

If you need to fix something from a closed reconciliation, click the reconciliation in the Reconcile view and choose Unlock. You'll be prompted for your account password as confirmation. The unlock is logged in the audit trail. After your edit, you'll re-reconcile.

Pausing and resuming

You don't have to finish a reconciliation in one sitting. Close the tab and come back later — your ticks are saved as you go. The Reconcile dashboard shows any in-progress reconciliations with a Resume button.

What to do after reconciling

Reconciliation is the gate for closing the period. Once every account is reconciled through, say, January 31, you can lock January and run your monthly reports knowing the numbers are trustworthy.