Bank Reconciliations

Bank reconciliation is a critical accounting process that ensures your recorded transactions match your bank statements. Crane Ledger provides comprehensive reconciliation tools to automate and track this process, maintaining accurate financial records and identifying discrepancies.

Reconciliation Workflow

Typical Reconciliation Process

Create Reconciliation: Start a new reconciliation for a specific account and period
Import Bank Statement: Upload or import bank statement transactions
Match Transactions: Automatically or manually match bank transactions to ledger entries
Resolve Differences: Address any discrepancies between bank and ledger balances
Complete Reconciliation: Finalize the reconciliation with zero difference

The Reconciliation Object

GET/organizations/:organization_id/reconciliations/:id

Auth required

1 credits

{
  "id": "rec_xxxxxxxxxxxxxxxx",
  "organization_id": "org_xxxxxxxxxxxxxxxx",
  "account_id": "act_xxxxxxxxxxxxxxxx",
  "account_name": "Checking Account",
  "statement_date": "2024-01-31",
  "statement_balance": "15750.00",
  "ledger_balance": "15800.00",
  "difference": "-50.00",
  "status": "InProgress",
  "reconciled_entries": 15,
  "total_entries": 18,
  "notes": "January bank reconciliation",
  "created_by": "user_xxx",
  "created_at": "2024-02-01T09:00:00Z",
  "updated_at": "2024-02-01T14:30:00Z",
  "completed_at": null
}

Attributes

Attribute	Type	Description
`id`	string	Unique identifier with `rec_` prefix
`organization_id`	string	The organization this reconciliation belongs to
`account_id`	string	The account being reconciled
`account_name`	string	Display name of the account
`statement_date`	date	Date of the bank statement
`statement_balance`	string	Balance according to bank statement
`ledger_balance`	string	Balance according to ledger
`difference`	string	Difference between statement and ledger (should be 0 when complete)
`status`	enum	`InProgress`, `Completed`, or `Cancelled`
`reconciled_entries`	integer	Number of matched transactions
`total_entries`	integer	Total transactions in reconciliation
`notes`	string	Optional reconciliation notes
`created_by`	string	User who created the reconciliation
`created_at`	datetime	When reconciliation was created
`updated_at`	datetime	When reconciliation was last updated
`completed_at`	datetime	When reconciliation was completed (null if in progress)

The Reconciliation Entry Object

{
  "id": "ren_xxxxxxxxxxxxxxxx",
  "reconciliation_id": "rec_xxxxxxxxxxxxxxxx",
  "transaction_id": "txn_xxxxxxxxxxxxxxxx",
  "amount": "500.00",
  "entry_date": "2024-01-15",
  "description": "Check #1234 - Office Supplies",
  "is_reconciled": true,
  "reconciled_at": "2024-02-01T10:15:00Z",
  "reconciled_by": "user_xxx"
}

Entry Attributes

Attribute	Type	Description
`id`	string	Unique identifier with `ren_` prefix
`reconciliation_id`	string	Parent reconciliation ID
`transaction_id`	string	Associated transaction ID
`amount`	string	Transaction amount
`entry_date`	date	Date of the transaction
`description`	string	Transaction description
`is_reconciled`	boolean	Whether this entry has been reconciled
`reconciled_at`	datetime	When entry was reconciled
`reconciled_by`	string	User who reconciled the entry

List Reconciliations

GET/organizations/:organization_id/reconciliations

Auth required

Returns a list of reconciliations for the organization with optional filtering.

Path Parameters

Parameter	Type	Required	Description
`organization_id`	string	Yes	The organization ID

Query Parameters

Parameter	Type	Description
`account_id`	string	Filter by account ID
`status`	enum	Filter by status (`InProgress`, `Completed`, `Cancelled`)
`limit`	integer	Number of results (default: 20, max: 100)
`offset`	integer	Pagination offset

Response

{
  "object": "list",
  "data": [
    {
      "id": "rec_xxxxxxxxxxxxxxxx",
      "organization_id": "org_xxxxxxxxxxxxxxxx",
      "account_id": "act_xxxxxxxxxxxxxxxx",
      "account_name": "Checking Account",
      "statement_date": "2024-01-31",
      "statement_balance": "15750.00",
      "ledger_balance": "15800.00",
      "difference": "-50.00",
      "status": "InProgress",
      "reconciled_entries": 15,
      "total_entries": 18,
      "created_at": "2024-02-01T09:00:00Z"
    },
    {
      "id": "rec_yyyyyyyyyyyyyyyy",
      "organization_id": "org_xxxxxxxxxxxxxxxx",
      "account_id": "act_yyyyyyyyyyyyyyyy",
      "account_name": "Savings Account",
      "statement_date": "2024-01-31",
      "statement_balance": "25000.00",
      "ledger_balance": "25000.00",
      "difference": "0.00",
      "status": "Completed",
      "reconciled_entries": 5,
      "total_entries": 5,
      "completed_at": "2024-02-02T11:30:00Z"
    }
  ],
  "has_more": false,
  "total_count": 2
}

Create Reconciliation

POST/organizations/:organization_id/reconciliations

Auth required

5 credits

Creates a new reconciliation for a specific account and period.

Path Parameters

Parameter	Type	Required	Description
`organization_id`	string	Yes	The organization ID

Request Body

Parameter	Type	Required	Description
`account_id`	string	Yes	The account to reconcile
`statement_date`	date	Yes	Bank statement date
`statement_balance`	string	Yes	Balance per bank statement
`notes`	string	No	Optional reconciliation notes

Response

{
  "id": "rec_xxxxxxxxxxxxxxxx",
  "organization_id": "org_xxxxxxxxxxxxxxxx",
  "account_id": "act_xxxxxxxxxxxxxxxx",
  "account_name": "Checking Account",
  "statement_date": "2024-01-31",
  "statement_balance": "15750.00",
  "ledger_balance": "15800.00",
  "difference": "-50.00",
  "status": "InProgress",
  "reconciled_entries": 0,
  "total_entries": 18,
  "notes": "January bank reconciliation",
  "created_at": "2024-02-01T09:00:00Z",
  "updated_at": "2024-02-01T09:00:00Z",
  "entries": [
    {
      "id": "ren_xxxxxxxxxxxxxxxx",
      "transaction_id": "txn_xxxxxxxxxxxxxxxx",
      "amount": "500.00",
      "entry_date": "2024-01-15",
      "description": "Check #1234 - Office Supplies",
      "is_reconciled": false
    }
  ]
}

Get Reconciliation

GET/organizations/:organization_id/reconciliations/:id

Auth required

1 credits

Retrieves the details of a specific reconciliation including all entries.

Path Parameters

Parameter	Type	Required	Description
`organization_id`	string	Yes	The organization ID
`id`	string	Yes	The reconciliation ID

Response

{
  "id": "rec_xxxxxxxxxxxxxxxx",
  "organization_id": "org_xxxxxxxxxxxxxxxx",
  "account_id": "act_xxxxxxxxxxxxxxxx",
  "account_name": "Checking Account",
  "statement_date": "2024-01-31",
  "statement_balance": "15750.00",
  "ledger_balance": "15800.00",
  "difference": "-50.00",
  "status": "InProgress",
  "reconciled_entries": 15,
  "total_entries": 18,
  "notes": "January bank reconciliation",
  "created_at": "2024-02-01T09:00:00Z",
  "updated_at": "2024-02-01T14:30:00Z",
  "entries": [
    {
      "id": "ren_xxxxxxxxxxxxxxxx",
      "transaction_id": "txn_xxxxxxxxxxxxxxxx",
      "amount": "500.00",
      "entry_date": "2024-01-15",
      "description": "Check #1234 - Office Supplies",
      "is_reconciled": true,
      "reconciled_at": "2024-02-01T10:15:00Z"
    },
    {
      "id": "ren_yyyyyyyyyyyyyyyy",
      "transaction_id": "txn_yyyyyyyyyyyyyyyy",
      "amount": "-2000.00",
      "entry_date": "2024-01-20",
      "description": "Deposit - Client Payment",
      "is_reconciled": false
    }
  ]
}

Update Reconciliation

PUT/organizations/:organization_id/reconciliations/:id

Auth required

5 credits

Updates reconciliation details. Use this to modify the statement balance or add notes.

Path Parameters

Parameter	Type	Required	Description
`organization_id`	string	Yes	The organization ID
`id`	string	Yes	The reconciliation ID

Request Body

Parameter	Type	Description
`statement_balance`	string	Updated bank statement balance
`notes`	string	Updated reconciliation notes

Response

{
  "id": "rec_xxxxxxxxxxxxxxxx",
  "organization_id": "org_xxxxxxxxxxxxxxxx",
  "account_id": "act_xxxxxxxxxxxxxxxx",
  "statement_date": "2024-01-31",
  "statement_balance": "15725.00",
  "ledger_balance": "15800.00",
  "difference": "-75.00",
  "status": "InProgress",
  "notes": "Updated balance after bank fee review",
  "updated_at": "2024-02-01T15:45:00Z"
}

Complete Reconciliation

POST/organizations/:organization_id/reconciliations/:id/complete

Auth required

5 credits

Completes a reconciliation. This can only be done when the difference between statement and ledger balances is zero.

Path Parameters

Parameter	Type	Required	Description
`organization_id`	string	Yes	The organization ID
`id`	string	Yes	The reconciliation ID

Response

{
  "id": "rec_xxxxxxxxxxxxxxxx",
  "organization_id": "org_xxxxxxxxxxxxxxxx",
  "status": "Completed",
  "statement_balance": "15800.00",
  "ledger_balance": "15800.00",
  "difference": "0.00",
  "completed_at": "2024-02-01T16:00:00Z",
  "reconciled_entries": 18,
  "total_entries": 18
}

Completion Requirements

A reconciliation can only be completed when difference equals "0.00". If there are outstanding differences, you must either adjust the statement balance, add missing transactions, or resolve discrepancies before completing.

Delete Reconciliation

DELETE/organizations/:organization_id/reconciliations/:id

Auth required

5 credits

Deletes a reconciliation. Only reconciliations with status InProgress can be deleted.

Path Parameters

Parameter	Type	Required	Description
`organization_id`	string	Yes	The organization ID
`id`	string	Yes	The reconciliation ID

Response

{
  "id": "rec_xxxxxxxxxxxxxxxx",
  "deleted": true
}

Reconciliation Best Practices

Frequency

Monthly: Reconcile bank accounts at month-end
Weekly: For high-volume accounts or during busy periods
Daily: For critical accounts requiring immediate verification

Process Steps

Gather Documents: Collect bank statements and check registers
Compare Balances: Verify statement vs. ledger balances
Match Transactions: Systematically match each bank transaction to ledger entries
Investigate Differences: Research and resolve any discrepancies
Record Adjustments: Add missing transactions or corrections
Verify Zero Difference: Ensure perfect balance before completion

Common Reconciliation Issues

Outstanding Checks: Checks written but not yet cleared
Deposits in Transit: Deposits recorded but not yet on statement
Bank Fees: Automatic charges not recorded in ledger
Interest Earned: Automatic credits not recorded
Timing Differences: Transactions recorded in different periods

Audit Trail

Always document reconciliation notes for future reference
Maintain records of adjustments and corrections
Keep completed reconciliations for regulatory compliance
Use reconciliation reports for financial statement preparation

Automation Benefits

Auto-matching: System identifies obvious matches
Rule-based: Custom rules for recurring transactions
Bulk Operations: Process multiple entries efficiently
Exception Reporting: Highlight unusual or unmatched items

Financial Controls

Regular bank reconciliations are essential for internal controls, fraud detection, and accurate financial reporting. They help identify errors, unauthorized transactions, and timing differences.

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