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Getting Started with ReconcileIQ: A Step-by-Step Guide

Transform your reconciliation process from hours to seconds. Here's everything you need to know to get started with ReconcileIQ.

ReconcileIQ simplifies bank reconciliation by automatically comparing your bank statements with your bookkeeping records. This guide will walk you through the process step by step, ensuring you get the most out of the tool.

Before You Begin

You'll Need:

  • Your bank statement exported as CSV
  • Your bookkeeping records for the same bank account exported as CSV

Step 1: Preparing Your Files

File Format Requirements:

Column Headers

Must be in the first row of your CSV files. Essential columns include:

  • • Date
  • • Amount (can be split into debit/credit)
  • • Description
  • • Fee column (if present in bank statement)

Transaction Data

Should start from the second row, with no blank rows or additional headers

Step 2: Uploading Your Statements

  1. 1

    Navigate to ReconcileIQ and select "Upload Statements"

  2. 2

    Choose your bank statement CSV file

  3. 3

    Upload your bookkeeping export CSV file

Step 3: Running the Reconciliation

Once your files are uploaded, simply click the "Reconcile Statements" button. ReconcileIQ will automatically compare your statements and identify any discrepancies.

Step 4: Understanding Your Results

ReconcileIQ will generate two key reports:

"Missing from Books" Report

These are transactions that appear in your bank statement but are missing from your bookkeeping. This file can be directly imported into your accounting software to add the missing entries.

"Remove from Books" Report

These are transactions in your bookkeeping that don't appear in your bank statement. Use this report as a reference to manually remove these entries from your accounting software.

Step 5: Applying the Changes

  1. 1

    Import Missing Transactions

    Use the "Missing from Books" file to import transactions directly into your accounting software

  2. 2

    Remove Incorrect Entries

    Using the "Remove from Books" report as a reference, delete these transactions from your accounting system

Pro Tips

  • Always check your CSV files before uploading to ensure they're properly formatted
  • Keep your original files until the reconciliation process is complete
  • Review the changes before importing to ensure accuracy

Ready to Get Started?

Transform your reconciliation process from hours to seconds. Try ReconcileIQ today and see the difference for yourself.

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