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)
Mark as a transfer between accounts
Leave unreconciled for later review

4. Receipt prompts

For expenses above $300 (AU), the system prompts for receipts:

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

Options:

Upload receipt (photo or PDF)
Mark as “I don’t have it” if unavailable
Receipts help with tax compliance and deductions

5. 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.

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

Bank Statements tab

Manage imported statements:

Upload PDF statements
View import history
See Statement Health (balance validation)
Review extracted transactions

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

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

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

Pattern confidence

Uses	Status	Behaviour
3+ times	High confidence	Auto-suggests match
1-2 times	Learning	Shows as suggestion
0 times	New	Needs your input

Viewing your patterns

Go to Bank → Bank Patterns tab to see:

Total patterns learned
High-confidence patterns (used 3+ times)
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
Patterns improve as you reconcile more transactions

Reconciliation status

Each bank transaction has a status:

Status	Meaning
Unreconciled	Not yet matched to your books
Matched	Suggested match waiting for confirmation
Reconciled	Successfully matched to your records
Created	New transaction created from bank line

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)
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
Upload receipts for expenses above $300
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

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
Allow 1-2 days for pending transactions

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