Multi-bank reconciliation workbook

What the multi-bank reconciliation workbook does

A reconciliation proves your records agree with the bank. For each account enter the balance on the statement, the balance in your books and the items that explain the difference: deposits not yet credited and payments not yet cleared. The workbook works out the adjusted balance and any remaining difference for each account and in total.

Who it is for

Bookkeepers and finance officers who keep more than one bank or M-Pesa account, and anyone preparing month-end accounts.

How to use the workbook

1. List each account with its statement balance and its book balance.
2. Enter deposits not yet credited and payments not yet cleared.
3. Read the adjusted bank balance and the difference.
4. Investigate any difference that remains.
5. Save a copy under a new name for each month or year, so earlier records stay as they were.

What is inside

• One row for each account
• Adjusted bank balance worked out
• Unreconciled difference for each account
• Reconciled or check status
• Total difference at the top

The workbook has these sheets: Instructions, Reconciliation. The main table has the columns Account; Balance per statement; Deposits not yet credited; Payments not yet cleared; Adjusted bank balance; Balance per books; Difference; Status. Yellow cells are for you to fill in and grey cells calculate by themselves, so leave the grey cells alone. The example rows show how it works; type over them with your own entries.

Tips for getting it right

• Reconcile every month, on the same day.
• Match every line of the statement to your books.
• Clear old outstanding items.
• Keep the signed reconciliation with the month's records.

Why keep this record

Accounting records let you answer three questions at any time: what came in, what went out and who owes whom. Kept consistently they also make tax returns, loan applications and the sale of a business much easier, because the evidence is already organised. Entering transactions the day they happen is far cheaper than reconstructing them at year end.

Questions people ask

Do I need to know Excel formulas? No. Type into the yellow cells and the rest is worked out for you. The formulas are visible if you want to see how a figure is reached.

Can I add rows or change the layout? You can add your own columns to the right and your own notes. If you insert rows inside a table, copy the grey formula cells down so the new rows calculate too.

Will it work on my phone or in Google Sheets? Yes for viewing and typing, but dropdown lists and the charts look best in desktop Excel or LibreOffice.

Keeping it safe and up to date

Good accounting records are a legal duty as well as a management tool: keep the supporting receipts and invoices with the workbook, and keep each year's copy for at least five years. Work on a copy, never on your only file, and back it up.

Read how to keep business records for KRA for the wider picture. See more accounting templates or ask us for a custom one.

The workbook works in Microsoft Excel, LibreOffice and Google Sheets. It is a tool to help you work out and record figures, not tax, legal or accounting advice, and it is not affiliated with the Kenya Revenue Authority. If something does not work as described, contact us and we will put it right.

Related guides, calculators and templates

• Guide: How to keep business records for KRA: what to save and for how long
• Guide: Bank reconciliation step by step: match your books to your bank
• Guide: Fixed assets and capital allowances explained for small businesses
• Another template: Accounts payable ageing schedule
• Another template: Accounts receivable ledger (up to 1,000 invoices)
• Another template: Balance sheet template

Need something different? Request a custom template, browse all guides or see every Excel template.