A reconciled balance still needs a review trail

Be precise about what was matched

Intuit’s reconciliation workflow asks for the account statement ending date and ending balance, then matches transactions until the difference is zero. Those inputs matter: changing the date or account changes the question being answered.

Consider a sample cash balance of $48,250. A matching statement balance is useful only if the statement belongs to the correct account and close date. A reviewer should be able to identify those inputs directly from the workpaper. This example is illustrative, not a conclusion about a real account.

Keep a short, reproducible explanation

A short explanation can be more useful than a large attachment folder. It connects the evidence to the balance and lets another person repeat the check without relying on the preparer’s memory.

• Identify the account and currency being reviewed.
• Record the statement date and the book period.
• Keep the reconciliation report and the statement together.
• Explain outstanding or subsequent-clearing items with their evidence.
• Record the reviewer’s decision and any follow-up action.

Separate the preparation from the conclusion

The preparer collects the evidence and explains the comparison. The reviewer checks that the period and account are right, considers unresolved items and decides whether the support is sufficient. A status should follow that decision rather than stand in for it.

Close Review organizes the account cycle and supporting explanation. The month-end guide provides the fuller sequence; the tie-out definition explains how to connect amounts to their sources. Keep the source documents and professional judgment central to the work.

Common questions