Reconciliations

Overview

Bank reconciliation matches your internal accounting records against your bank statements to ensure everything is accounted for. Each reconciliation covers a specific period for a specific bank account.

Key characteristics:

• Period-based — Each reconciliation covers a date range, typically a calendar month.
• Bank-account specific — Reconciliations are created per bank account.
• Confirmation-based — Payments are confirmed (ticked off) as they are matched to bank statement entries.
• Variance tracking — The system calculates the difference between your records and the bank statement balance.
• Statement-assisted — You can attach a bank statement PDF and let Beeswax extract statement lines for review.

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Creating a Reconciliation

Navigate to the reconciliation page for a bank account and create a new reconciliation period.

Fields

Field	Required	Description
Bank Account	Yes	The bank account to reconcile.
Start Date	Yes	The start of the reconciliation period. Defaults to the first day of the current month.
End Date	Yes	The end of the reconciliation period. Defaults to the last day of the current month.
Opening Balance	Yes	The bank account balance at the start of the period.
Closing Balance	Yes	The bank account balance at the end of the period (from the bank statement).
Statement PDF	No	Upload the bank statement for this period so Beeswax can extract line items and suggest matches.

Date Validation

The start date must be before the end date. If remittances have already been confirmed, the date range cannot be narrowed to exclude them.

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The Reconciliation Workflow

Step 1: Enter Balances or Upload a Statement

Enter the opening and closing balances from your bank statement for the period. If you upload the statement PDF, Beeswax stores it with the reconciliation and can process it into statement lines for matching.

Step 2: Review Payments

The reconciliation page lists all remittances (payments) for the selected bank account that fall within the date range. Each payment shows:

• The payment date
• The description and amount
• Whether it has been confirmed (matched)

Step 3: Confirm Payments

Tick each payment that appears on your bank statement to confirm it. Confirmed payments are linked to the reconciliation via a confirmation record.

Step 4: Check the Variance

The system calculates:

• Total Reconciled — The sum of all confirmed payments
• Debits and Credits — Separate totals for confirmed money out and money in
• Remaining — Opening balance plus total reconciled minus closing balance

When the remaining amount is zero, the reconciliation is fully balanced.

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Reconciliation Status

A reconciliation is considered fully reconciled when all available remittances for the period have been confirmed. The variance between your records and the bank statement should be as close to zero as possible.

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Working with Bank Statements

Bank statements can be uploaded and parsed into line items, which can then be matched to accounting records. PDF statements uploaded to a reconciliation can be processed by Beeswax to create statement lines for the selected bank account and period.

During reconciliation, you can:

• View unmatched bank statement line items
• Review extracted statement lines alongside Beeswax payments
• Use suggested matches within a short date buffer around each statement line
• Create bank transfers directly from the reconciliation page
• Create raw journal entries for adjustments

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Snapshots

You can generate a PDF snapshot of a reconciliation for your records. The snapshot shows the opening balance, closing balance, confirmed payments, and variance.

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How-to Guides

Reconcile a Bank Account

1. Access the Bank Account you want to reconcile
2. Click New Statement
3. Set the start and end dates matching the statement period
4. Enter the opening and closing balances from your bank statement
5. Optionally upload the statement PDF
6. Save the reconciliation and review the extracted statement lines or matching suggestions

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Permissions by Role

Action	Owner	Super Admin	Manager	Accountant	Basic	Client
Create reconciliations	Yes	Yes	No	Yes	No	No
View reconciliations	Yes	Yes	No	Yes	No	No
Confirm payments	Yes	Yes	No	Yes	No	No
Edit reconciliations	Yes	Yes	No	Yes	No	No
Delete reconciliations	Yes	Yes	No	Yes	No	No
Generate snapshots	Yes	Yes	No	Yes	No	No

Key Notes

• Managers cannot manage reconciliations. This is an accounting-level feature.
• Accountants have full access to reconciliation management.
• Basic users, Contractors, and Clients cannot access reconciliations.
• Reconciliation access is included with every paid plan and during the trial.