Bank Reconciliation

Match bank transactions to your accounting records. Reconciliation ensures your books match your bank statements.

Overview

Bank reconciliation matches what the bank says happened (bank statement lines) with what your books say happened (your accounting records).

The two sides

Side	What It Shows
Bank Statement	What the bank recorded—deposits, withdrawals, fees
Your Books	What you recorded—invoices paid, bills paid, expenses

Why reconcile?

Know your true cash position
Catch missing or duplicate transactions
Ensure BAS and tax reporting is accurate
Validate your financial statements

Reconciliation workflow

1. Access reconcile tab

Go to Bank
Click the bank account to reconcile
Select Reconcile tab
See unreconciled transactions

2. Run AI matching

Click Match to start intelligent matching. The system analyses your unreconciled transactions and searches for matches in:

Unpaid invoices (waiting for customer payment)
Unpaid bills (waiting for you to pay)
Existing transactions you’ve already recorded
Similar transactions you’ve reconciled before

The matching process shows progress through different stages. Once complete, transactions are organised into sections based on confidence.

3. Review matched transactions

After matching runs, you’ll see transactions organised into sections:

Ready to Confirm

High-confidence matches that are likely correct. These include:

Invoice Match — Payment matches an invoice number and amount
Exact Match — Matches a transaction you’ve already recorded
Bill Match — Payment matches a bill you need to pay

Each shows:

Match type badge
Confidence score (e.g., 98%)
What it matched to (e.g., “Invoice INV-0703”)
Account it will be recorded against

To confirm: Check the transactions you agree with, then click Confirm or Confirm All.

Quick Wins

High-confidence matches where the system needs you to select a contact or account. These are transactions the system recognises but wants you to verify the details.

Features:

Select a contact from your address book
Choose the account (e.g., Bank Fees, Office Expenses)
Select tax code (e.g., GST 10%)
Your choices are saved for future matching

Needs Your Input

Lower-confidence matches or new transactions the system hasn’t seen before. These require more information before confirming.

Actions you can take:

Search for an existing match
Create a new expense (Spend Money)
Create new income (Receive Money)
Split one bank transaction across multiple accounts or GST treatments
Mark as a transfer between accounts
Leave unreconciled for later review

4. Attach receipts

You can attach a receipt or tax invoice to a bank statement line for substantiation. Attaching stores the file against the transaction — it does not create a bill or change the journal.

Rebased can also auto-match a clearly paid receipt (same amount, same day, same merchant) to the right bank line when you upload it from Bills or email — including lines that are already reconciled. Attach never changes the coding; it only adds the evidence.

Bill vs receipt — where to upload

Document	Where	Result
Supplier bill you’ll pay later	Bills page upload	OCR creates an Accounts Payable bill
Receipt for money already spent	Bills/email upload, or this Reconcile attach flow	Matched and attached to the bank line when the match is clear; otherwise held as Waiting for bank transaction until the feed catches up

If a paid receipt arrives before the bank line, you’ll see Waiting for bank transaction on the upload. Rebased keeps trying when new transactions import. After about two weeks with no match, you’ll be asked whether you paid it personally, want it converted to a bill, or want to keep waiting. See Bills Tab for those answers. See also Reconciliation Autopilot for how Autopilot and receipts interact.

When Rebased asks for a receipt

For some expenses, Intelligence prompts for a receipt before you can confirm:

Situation	What you see
Receipt needed	Upload prompt in the Request column, with Upload Receipt and I don’t have it
Receipt attached	Mint Receipt attached chip, with X to remove
No receipt on hand	Use I don’t have it to explain and continue

Thresholds (AU) still guide recommendations:

Threshold	Guidance
Above $82.50	Receipt recommended for GST claims
Above $300	Receipt often required for tax substantiation

Drag and drop

Supported files: PDF, PNG, or JPEG (max 10MB each). You can drop one or more files.

Where	How
Reconcile tab	Drag a file onto a transaction row or card. The row highlights while you drag.
Account Transactions tab	Drag onto a reconciled row that is linked to a bank statement line.
Transaction details	Open the transaction, then drop onto the details card or the Receipts & attachments section.

After a successful attach, Reconcile shows Receipt attached. On the transaction details page you can Open the file or Remove it.

Remove a receipt

Reconcile: click the X on the Receipt attached chip, then confirm.
Transaction details: click Remove next to the file, then confirm.

Removing the last attachment clears the receipt status so the prompt can appear again if needed. If Rebased had auto-attached the receipt and you remove it, that correction teaches the system not to repeat the same match.

If drop is unavailable

Unreconciled or unlinked ledger rows (for example some manual journals) have no bank statement line to attach to — use the Reconcile tab for that bank line instead.
Wrong file type or files over 10MB are rejected with a toast message.

5. Manual Match

Use Actions → Manual Match when you need to link a bank line yourself.

Tab	Use when
Bills	Money out — match to unpaid supplier bills
Invoices	Money in — match to unpaid customer invoices
Journals	Link to one or more existing journals that already hit this bank account but are not reconciled yet

Search filters as you type (name, reference, or number). Use the amount field to narrow by balance. Use Load more if the list is long.

Confirm requires the selected total to equal the bank amount. For partial payments or multiple documents, use Split or an Adjustment (for example bank fees).

Journals is for linking only — not for creating a new payment. Select multiple journals when one bank amount covers more than one posted entry (for example payroll + super, or a split BAS payment). Expand a row to see read-only accounts and amounts so you can tell similar journals apart. Opening balances, cash adjustments, and conversion journals are hidden. Prefer Bills or Invoices when recording a new payment against open documents.

6. Bulk reconcile

For high-confidence matches:

Click checkboxes to select multiple transactions
Click Confirm All to reconcile selected items in one action
Review before confirming—deselect any you’re unsure about

Match types explained

Invoice Match

Bank: “TRANSFER FROM CLIENT INV-1234” +$1,760.00

→ Matches to: Invoice #1234 for $1,760

The system recognises invoice numbers in bank descriptions and matches them to your unpaid invoices.

Bill Match

Bank: “PAYMENT TO SUPPLIER BPAY 12345” -$500.00

→ Matches to: Bill #12345 to supplier for $500

BPAY reference numbers and supplier names help match payments to bills.

Exact Match

Bank: “PAYMENT TO VW FINANCE” -$475.61

→ Matches to: Existing loan payment you’ve already recorded

When you’ve already created a transaction in Rebased, the system matches the bank line to it.

Pattern Recognition

Bank: “VISA DEBIT WOOLWORTHS” -$156.80

→ Suggests: Office Supplies (based on your previous reconciliations)

The system learns from your past choices and suggests the same account for similar merchants.

Split Transaction

Bank: “RETURN TO WORK SA” -$1,200.00

→ Split into: Insurance Expense, Statutory Fees, or other accounts as needed

Use Actions → Split Transaction when one bank line needs to be allocated across more than one account or tax treatment. Add each split line, choose the account and GST code, and make sure the total equals the bank transaction amount before confirming.

Confirmed splits automatically save a Bank Pattern for that merchant. Next time a similar transaction appears, Rebased can pre-fill the same percentage split so you only need to review and confirm it.

Transfers between accounts

Bank: “TRANSFER TO SAVINGS” -$1,000.00

→ Matches to: Transfer transaction in your other account

Internal transfers between your accounts are recognised by the “transfer” keyword and matching amounts.

Account detail tabs

Reconcile tab

Shows unreconciled bank transactions waiting to be matched:

Transactions from live feeds or statement imports
Run Match button to start AI matching
Organised into Ready to Confirm, Quick Wins, Needs Your Input
Bulk selection tools

Pending bank transactions do not appear here yet. They are visible in the Bank Statements tab as Pending at bank and become reconcileable only after the bank posts the final transaction.

Bank Statements tab

Review the bank’s transaction view:

See live feed, statement import, reconciled, unreconciled, and pending-at-bank rows
Use the Pending filter to review bank activity that is not settled yet
View Feed Health / Statement Health balance validation
Upload PDF statements for manual accounts or approved gap-fill windows

Account Transactions tab

View what you’ve already recorded in Rebased:

All payments, receipts, transfers you’ve created
Already reconciled items
Journal entries affecting this account
Drag-and-drop receipt attach on reconciled rows linked to a bank statement line (see Attach receipts)

Key difference:

Reconcile tab: Bank’s view (needs matching)
Account Transactions: Your view (already recorded)

Bank Patterns

Bank Patterns are the system’s memory of how you reconcile transactions. As you confirm matches, the system learns and improves future suggestions.

How patterns work

When you reconcile a transaction, the system remembers:

Merchant keyword — The business name in the bank description
Account — Which account you coded it to
Contact — Which supplier or customer it’s for
Tax code — GST treatment you applied
Split percentages — For confirmed split transactions, how the amount was divided across accounts and tax codes

Next time a similar transaction appears, the system suggests the same details.

Pattern confidence

Patterns start with moderate confidence and get stronger when you accept the same coding again. Confidence drops when you correct a suggestion — for example by confirming a different account, unreconciling a pattern-driven match, or reclassifying away from the suggested account. High-confidence patterns can be confirmed automatically; a corrected pattern loses that autonomy straight away.

Signal	Behaviour
Accepted often	Stronger suggestions; may auto-confirm when confidence is very high
Corrected / rejected	Confidence drops immediately; the pattern stops auto-confirming
New	Moderate starting confidence; needs your confirmation at first

Viewing your patterns

Go to Bank → Bank Patterns tab to see:

Total patterns learned
High-confidence patterns
Incomplete patterns (missing contact or tax code)

Managing patterns

Patterns are created automatically—you don’t need to do anything. However, you can:

Review patterns to understand why certain matches are suggested
Update incomplete patterns by selecting missing details during reconciliation
Correct a split by changing the pre-filled lines before confirming
Patterns improve as you reconcile more transactions — and improve further when you fix mistakes

Reconciliation status

Each bank transaction has a status:

Status	Meaning
Unreconciled	Not yet matched to your books
Pending at bank	Visible in the bank feed, included in the bank balance, but not settled or reconcileable yet
Matched	Suggested match waiting for confirmation
Reconciled	Successfully matched to your records
Created	New transaction created from bank line

Remove & Redo / Unreconcile respects your lock date and finalised BAS periods. If a lock date blocks the change, unlock in Settings. If a finalised BAS blocks it, reopen that BAS from Tax → BAS History (reverse any BAS payment journal first if needed).

Best practices

Frequency

Weekly: If high transaction volume (20+ per week)
Monthly: Standard for most businesses
Quarterly: Minimum for low-volume accounts
Before BAS: Always reconcile before lodging BAS

Process

Ensure bank feed is current (or import latest statement)
Check Bank Statements for any Pending at bank rows and leave them until they settle
Click Match to run AI matching
Confirm Ready to Confirm matches (bulk or individual)
Fill in Quick Wins (select contact/account)
Handle Needs Your Input items, including split transactions
Attach receipts where prompted (drag and drop onto the row, or use Upload Receipt)
Verify ending balance matches bank statement

Accuracy checks

Reconciled balance should match bank statement
Investigate discrepancies immediately
Check for duplicate transactions
Verify transfer amounts match between accounts

AU-specific notes

BAS preparation

Before lodging BAS:

Reconcile all bank accounts
Ensure GST coding is correct
Verify all income and expenses captured
Check for missing transactions

GST on bank transactions

Bank fees: Usually GST-inclusive (10%)
Interest income: No GST
Transfers: No GST (internal movement)
Merchant fees: Typically include GST
Split transactions: Choose the correct GST code on each line. Rebased records GST separately per split line, so mixed GST / GST-free transactions can be reconciled accurately.

EOFY reconciliation

End of financial year:

Reconcile all accounts to June 30
Document any unreconciled items
Prepare for tax return
Archive completed accounts if closing

Troubleshooting

Balance doesn’t match bank

Causes:

Unreconciled transactions
Wrong opening balance
Missing transactions
Duplicates
Timing differences

Solutions:

Clear all unreconciled items
Check opening balance accuracy
Import missing statement periods
Search for duplicates by amount
Leave Pending at bank rows until the bank posts the final transaction

Can’t find a match

Check Account Transactions tab (what you’ve recorded)
Search by amount (not description)
Look in different date range (plus/minus 7 days)
Verify transaction wasn’t recorded against wrong account
Create new transaction if genuinely missing

Duplicate reconciliations