One of the best ways to ensure you don’t overspend is to reconcile your credit card
statement. Reconciling your statement will help you see what you actually spent your
money on so you don’t have any surprises when you pay your next credit card bill.
Reconciliation is the process of making sure your bank statement and your bank balance
It’s important that you stay on top of your work and that you’re organised. If you’re
disorganised, it’s easy to lose sight of what you need to be doing and it can be really hard to get back on track.
1. Start with the most recent charges and work your way back.
2. Look for any charges that don’t belong.
3. Make sure the amounts are right.
4. Find the total charges.
5. See if any charges are missing.
Reconcile your statement by batch or by ítem
If you reconciled your statement by batch, then you should check that all the items in
your batch have the correct amount in the correct accounts. If you reconciled by
individual item, then you should check that each item has the correct amount in the
If you have an item on your bank statement that’s not reflected in your bank balance,
then you need to reconcile those two things. If you’re reconciling by batch, start with the
largest charges and work your way down. This will help you find the discrepancies faster.
If you’re reconciling by item, focus on the most expensive charges and move on to less