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Account Reconciliation Template

A reconciliation proves a balance sheet number is supported by something outside the general ledger. Most weak reconciliations fail in one of two ways: the supporting balance is just another GL report, or reconciling items sit unexplained for months. This template forces an independent support source, ages every reconciling item, and calculates the unexplained difference so nobody can round it away. Pair it with our software category guides to see which tools fit your team. Once you have a shortlist, check the vendor profiles and the finance glossary for unfamiliar terms, then use our head-to-head comparisons before your first demo.

Built for: Controller, Accounting manager, Senior accountant, Staff accountant

What you get

A reconciliation summary with GL balance, supporting balance, reconciling items, and a live unreconciled difference formula
A reconciling items log that ages each item in days from origination to period end
Preparer and reviewer sign-off fields with dates, kept separate
A reviewer checklist covering the points auditors test on reconciliations

+1 more inside

How to use it

1
Pull the GL balance from the final trial balance. Use the trial balance for the period being closed, not a live GL query that may have moved since. Record the account number and the exact balance in the summary table.
2
Get the supporting balance from an independent source. Support should come from outside the account itself: a subledger aging, bank or broker statement, loan statement, amortization schedule, or third-party confirmation. A GL detail report is not support for the GL.
3
Log every reconciling item with a date. Each item needs a description, amount, origination date, and an action. The age column calculates automatically, so items older than one period stand out without anyone having to look for them.
4
Resolve or escalate the unreconciled difference. The difference column should be zero. If it is not, the reconciliation is not finished. Agree a threshold below which small differences are written off with approval, and document the approval.
5
Sign off in order. The preparer signs and dates first, then the reviewer. A reviewer date earlier than the preparer date, or the same person in both fields, is a control failure.

What's inside

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Reconciliation summary

One row per balance sheet account. Unreconciled difference = GL balance - supporting balance - reconciling items. Anything other than zero needs investigation.

Account	GL balance	Supporting balance	Reconciling items	Unreconciled difference	Preparer / date	Reviewer / date
1200 Accounts receivable	842,315.60	838,940.60	3,375.00	0.00
2100 Accrued liabilities	214,500.00	214,500.00	0.00	0.00

Calculated in the CSV: Unreconciled difference = GL balance - supporting balance - reconciling items.

5 more sections in the full template

Plus the branded PDF and editable CSV.

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Frequently asked questions

What is an account reconciliation?

It is a comparison of a general ledger balance to an independent source, such as a bank statement, subledger, or schedule, with every difference explained. The aim is to show the balance is complete, accurate, and exists at period end.

What is the difference between a reconciling item and an unreconciled difference?

A reconciling item is an identified, explained difference, such as a deposit in transit or a manual journal not yet in the subledger. An unreconciled difference is whatever is left after all reconciling items, and it means the reconciliation is not complete.

How often should balance sheet accounts be reconciled?

High-risk and high-activity accounts such as cash, AR, AP, and accruals are commonly reconciled monthly. Low-activity accounts are sometimes reconciled quarterly under a documented risk-based policy. Whatever the frequency, every account should be reconciled at year end.

Who should review account reconciliations?

Someone other than the preparer, with enough knowledge of the account to challenge the reconciling items. In small teams this is often the controller. The review should be dated after preparation and evidenced by a sign-off.