GUIDES · AUSTRALIA
Bank reconciliation, simply
Reconciling means checking every line on your bank statement against your books. It's how you know your figures, and your BAS, are right.
General information only, not accounting, tax or legal advice. Check with your accountant or the ATO where a decision depends on your circumstances. Written 30 October 2026 · last checked 30 October 2026.
Why it matters
- It catches missing invoices and bills, duplicate payments and bank fees.
- Your GST figures are only as right as your reconciled transactions.
A weekly routine
- Import the statement for the week.
- Match each line to an invoice, bill or transfer.
- Code anything left, such as fees and interest.
- Check the statement balance equals the balance in your books.
In Plain
Import statements as CSV, OFX or QIF files. Banking shows each account's statement balance, the balance in Plain and the difference to reconcile.
Official source
Try it
Reconcile the sample bank account in the demo.