Guides / Reconciliation

Reconciliation guide

How do I check a converted bank statement against its balances?

Compare the opening balance plus deposits minus withdrawals with the closing balance, then spot-check each running balance and every row against the source statement.

Updated October 25, 2026 · Worked figures are invented

Try the synthetic statement Open the converter

Start with the statement’s opening balance

Use the opening balance printed on the statement period, not the balance after its first transaction. Add all deposits, subtract all withdrawals, and compare the result with the stated closing balance.

Worked result: 1,000.00 + 300.00 − 125.50 − 62.00 = 1,112.50. The arithmetic discrepancy is 0.00.

Worked example with invented figures

This table mirrors the built-in synthetic statement. Amounts and descriptions are invented and do not describe a real account. Dates use DD/MM/YYYY; for example, 03/04/2026 means 3 April 2026.

Invented three-row statement with a 1,000.00 opening balance
DateDescriptionWithdrawalDepositRunning balance
03/04/2026Studio supplies125.50—874.50
05/04/2026Project credit—300.001,174.50
07/04/2026Service charge62.00—1,112.50

Withdrawals: 187.50. Deposits: 300.00. Net change: +112.50. Closing balance: 1,112.50.

Check each running balance too

For each transaction, compare the previous balance plus a deposit or minus a withdrawal with the next printed balance. In the invented example, 1,000.00 − 125.50 = 874.50; 874.50 + 300.00 = 1,174.50; and 1,174.50 − 62.00 = 1,112.50.

  1. Confirm the statement period and choose the correct date convention if the dates are ambiguous.
  2. Compare the first and last transaction, plus any flagged or unusually large row, with the source.
  3. Check that debits are withdrawals and credits are deposits.
  4. Compare transaction totals and running balances with the statement.
  5. Resolve review warnings before using the spreadsheet or accounting export.

What a matched balance does—and does not—prove

A zero discrepancy shows that the amounts currently represented in the extracted rows agree with the selected opening and closing balances. It cannot prove that no transaction was omitted, duplicated, dated incorrectly, or assigned the wrong description. Check the source statement as well as the arithmetic.

ExtractMint’s balance check is a review aid. No bank-specific format has been independently validated against real statements, and unfamiliar layouts may need manual correction.