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Bank Reconciliation Template

A bank reconciliation has two halves and most mistakes come from mixing them up. Deposits in transit and outstanding checks adjust the bank side because the bank has not seen them yet. Fees, interest, and returned items adjust the book side because you have not recorded them yet, and only book-side items need a journal entry. This template keeps the two sides apart and calculates both adjusted balances. 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: Staff accountant, Senior accountant, Accounting manager, Controller

What you get

A book-to-bank summary per account with adjusted bank balance and difference formulas
A book-side adjustments table for fees, interest, and returned items that need journal entries
An outstanding items list that ages deposits in transit and outstanding checks
An adjusting journal entries log with debit and credit accounts

+1 more inside

How to use it

1
Start with the book side. Enter the GL cash balance, then any bank fees, interest, or returned items that appear on the statement but not in the books. The adjusted book balance calculates automatically. Each of these needs a journal entry.
2
List outstanding items. Record deposits in transit and outstanding checks with their dates. The days-outstanding column flags items that are no longer timing differences. A deposit still in transit after a few business days usually means it was never deposited or was posted to the wrong account.
3
Complete the summary. Enter the statement balance, total deposits in transit, and total outstanding checks. Carry the adjusted book balance across from the book-side table. The difference column must be zero.
4
Post the adjusting entries. Record every book-side adjustment in the journal entries log and post it before the period is locked. Reference the JE number back on the book-side table.

What's inside

Here's a preview. Unlock the free download to get all 6 sections (5 more below).

Book-to-bank summary

Adjusted bank balance = balance per bank + deposits in transit - outstanding checks. Difference = adjusted bank balance - adjusted book balance, and should be zero.

Bank account	Balance per bank	Deposits in transit	Outstanding checks	Adjusted bank balance	Adjusted book balance	Difference
Operating ****4821	1,284,650.25	46,300.00	72,918.40	1,258,031.85	1,258,031.85	0.00
Payroll ****7730	58,210.00	0.00	4,860.12	53,349.88	53,349.88	0.00

Calculated in the CSV: Adjusted bank balance = balance per bank + deposits in transit - outstanding checks; Difference = adjusted bank balance - adjusted book balance.

5 more sections in the full template

Plus the branded PDF and editable CSV.

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Frequently asked questions

What goes on the bank side versus the book side of a bank reconciliation?

The bank side adjusts for items you have recorded that the bank has not processed yet, mainly deposits in transit and outstanding checks. The book side adjusts for items the bank has processed that you have not recorded, such as fees, interest, returned checks, and bank errors in your favor identified on review.

Which bank reconciliation items need a journal entry?

Only book-side items: bank fees, interest earned, returned (NSF) items, and any errors in your own books. Deposits in transit and outstanding checks are timing differences that clear when the bank processes them, so they need no entry.

What should I do with an outstanding check that never clears?

Contact the payee to find out whether it was received. If it cannot be resolved, it is generally voided and the liability restored rather than taken to income, because many states require unclaimed funds to be reported and remitted after a dormancy period. Check the rules in the relevant states before writing it off.

How often should bank accounts be reconciled?

At least monthly as part of the close, and many teams reconcile high-volume operating accounts weekly or daily. More frequent reconciliation catches fraud, duplicate payments, and returned items while they are still easy to act on.