🏦 Bank Reconciliation

Bank Reconciliation Made Simple in WordPress

Import your bank statement, match transactions to your records, and keep your books accurate — all within your WordPress dashboard.

What is Bank Reconciliation?

Bank reconciliation is the process of matching the transactions in your accounting records to the transactions on your bank statement. It ensures that your books are accurate, nothing is missing, and every pound is accounted for.

For HMRC compliance and good business practice, regular bank reconciliation is essential. It catches errors early, identifies missing entries, and gives you confidence that your financial reports are correct.

Best practice: Reconcile your bank at least once a month. If you have a high volume of transactions, reconcile weekly. ComptaFlow UK makes the process quick and painless.

How It Works: 3 Simple Steps

1

Import

Download a CSV statement from your bank and upload it to ComptaFlow UK.

2

Match

The plugin shows bank lines alongside your records. Click to match, or flag unmatched entries.

3

Confirm

Review matched items, investigate discrepancies, and mark the period as reconciled.

Step 1: Import Your Bank Statement

Download a CSV export from your online banking. Most UK banks offer this feature — usually under "Download statements" or "Export transactions". Then upload the file in ComptaFlow UK → Bank Reconciliation → Import.

Importing bank statement CSV

Upload your bank CSV — ComptaFlow UK reads the date, description, and amount columns

Compatible With All UK Banks

ComptaFlow UK accepts standard CSV exports from all major UK banks:

Barclays
HSBC
Lloyds
NatWest
Santander
Nationwide
Starling
Monzo
Revolut
Metro Bank
TSB
Co-op Bank

Step 2: Match Transactions

The matching screen shows your bank statement lines on one side and your ComptaFlow UK entries on the other. Match them by clicking — the plugin highlights potential matches based on amount and date.

Matching bank transactions

Side-by-side matching — click to link bank lines to your accounting records

What you'll typically find during reconciliation:

✅
Matched entries Bank amount matches your record — confirmed correct
❓
Missing from books Bank shows a transaction you haven't recorded — needs adding
⚠️
Amount mismatch Amounts differ slightly — check for typos or partial payments
📝
Recorded but not on bank You've recorded something the bank doesn't show — timing difference or error

Why Reconcile Regularly?

🔍
Catch errors early Spot typos, duplicates, or missing entries before they snowball
🛡️
Fraud detection Identify unauthorised transactions immediately
📊
Accurate reports Your P&L and Balance Sheet are only as good as your records
💷
Correct VAT returns Missing entries mean inaccurate VAT calculations
📋
HMRC compliance MTD requires accurate digital records — reconciliation proves accuracy
😌
Peace of mind Know exactly where you stand financially at any time

Tips for Effective Reconciliation

1. Reconcile monthly — Don't leave it until year end. Monthly reconciliation takes minutes; annual reconciliation takes hours.

2. Record expenses promptly — Enter receipts the same day. The longer you wait, the harder it is to remember what a transaction was for.

3. Use descriptive references — When recording entries, include the supplier name or invoice number. This makes matching much faster.

4. Check the opening balance — Before importing, verify your ComptaFlow UK bank balance matches your real bank balance at the start of the period.

5. Investigate every discrepancy — Don't ignore small differences. A 50p discrepancy today could indicate a bigger problem.

Reconcile Your Bank in Minutes

Bank reconciliation is included in all Pro plans. Import, match, and confirm — directly from your WordPress dashboard. 30-day free trial, no card required.

View Pro Plans Sole Trader Guide