Excel Reconciliation - Find Those Unmatched Amounts Faster
Download Excel Reconciliation Spreadsheet
(Should work with all versions of Microsoft Excel, if it doesn't work with yours please let me know)
If there's one thing that every small business owner really loves it's doing reconciliation on their accounts! What do you mean that’s not true? Depending on the nature of your business it can be a real pain to get what is in your finance package to match what has gone through your bank account. This isn’t only a problem for small businesses though, I have worked in some very large financial institutions and the problems can also be the same in there as finance staff struggle to match up payments across multiple accounts from multiple income sources.
This is why the Excel Reconciliation Spreadsheet was written and it hand on heart to date it has saved many hundreds of hours of people trawling through figures looking for “that amount”. This spreadsheet works in a very simple way, all you have to do is copy your financial data into columns A through D. The only important thing to note is that your figures should be in column B. Either/Or columns A,C,D can be used for the invoice number, date or whatever other identifiers you want for that transaction. Now it’s just a case of entering the amount you are looking to match in F2. Pressing the “Find Matches” button will cause column H to be filled with EVERY combination of transactions that could make the amount you are looking for. It probably sounds more complicated explaining it than what it is in use (there is some example data in the sheet, press the button to give it a go). All you really need to know is that is you have a random amount coming into your account the Excel Reconciliation Spreadsheet will make it simple to locate the items that could possibly be associated with that amount.
The Excel Reconciliation Spreadsheet makes trawling through all those numbers a piece of cake, it should work with all versions of Excel and is 100% free to download and use.