Reconciliation Status Checker
List your balance sheet accounts with the last reconciliation date, owner, and review status. See which are stale past 30, 60, or 90 days, unreviewed, or owned by nobody.
Built on question 2 of Dr. Michelle Gordon's guide, How to Tell If Your Financial Statements Are Accurate.
How often should balance sheet accounts be reconciled?
Every significant balance sheet account should be reconciled to outside evidence every month: bank and card accounts to statements, loans to lender records, receivables and payables to their agings. Each reconciliation should have a named owner and a reviewer other than the preparer. An account that has not been reconciled in more than 30 days has missed a month end; past 90 days, any error in it has had a full quarter to compound.
How to use this tool
- 1
List your accounts
One row per balance sheet account, with the date it was last reconciled, who owns it, and whether the reconciliation was reviewed.
- 2
Set the as-of date
Usually today, or the reporting date of the package you are about to rely on.
- 3
Work the flagged rows
Accounts are sorted by how many problems they carry: stale, unreviewed, or unowned.
Someone saying it is reconciled is not a reconciliation
Dr. Gordon's test is whether the reconciliations actually exist, are current, and have been reviewed. As she puts it: "A balance sheet is not reliable simply because the numbers add up." Four patterns account for most reconciliations that look done and are not.
The date moves, the items do not
A reconciliation signed off every month with the same unexplained reconciling items carried forward is not finished. Items older than 60 days should be investigated and cleared, not rolled.
Prepared but never reviewed
The person who made the entries is the worst person to be the only one checking them. Review is the step that catches the unsupported adjustment, which is why this tool flags unreviewed reconciliations even when they are current.
The account nobody owns
Accruals, clearing accounts, and loan balances drift because they belong to no one's month-end routine. An account with no owner is an account with no reconciliation.
Bank is done, everything else is not
Teams reconcile cash because the bank sends a statement. Receivables, payables, and payroll liabilities have no statement arriving, so they slip. Those are often where the larger errors sit.
Status is the easy part
This shows which accounts are out of date. Bringing them current still means matching thousands of transactions against statements and chasing every difference. DataWyse ties figures back to their source systems as part of every analysis, so a number arrives with the evidence behind it instead of a promise that someone checked.
See how DataWyse answers thisQuestions finance teams ask about this tool
How often should bank accounts be reconciled?
At least monthly, within a few business days of receiving the statement. High-volume accounts benefit from weekly reconciliation, which also shortens the month-end close because the work is already mostly done.
Which accounts need to be reconciled every month?
Every significant balance sheet account: bank and credit card accounts, accounts receivable, accounts payable, loans and lines of credit, payroll liabilities, sales tax payable, accruals, prepaids, and any clearing or suspense account. If it carries a balance, it needs evidence behind it.
What does stale mean for a reconciliation?
This tool calls a reconciliation stale when it is 31 to 60 days old, overdue at 61 to 90, and critical past 90 days or when there is no date at all. Those bands are a practical guide tied to monthly closes, not a regulatory standard.
Who should review a reconciliation?
Someone other than the person who prepared it, and ideally someone who does not process the transactions in that account. In a small team that is often the controller, an outside accountant, or the owner reading the bank statement directly.
Can I paste my account list in?
Not yet. Add rows with the Add account button and replace the sample rows. Each row takes an account name, the last reconciled date, an owner, and a reviewed tick.
Is this tool really free?
Yes. No signup, no email required, no usage limit. It runs entirely in your browser: nothing you type is uploaded to a server or stored anywhere. We build these because the people who find them useful are the people who eventually need a financial analyst that works the same way.
Related reading
- How to Tell If Your Financial Statements Are Accurate: 7 Questions Every CEO Should Ask Industry Expert · Dr. Michelle Gordon, CPA, CMA, CPHR, EMBA, DBA · 7 min read
DataWyse answers the next thirty
Variance deep-dives, cash re-forecasts, scenario plans, board prep: asked in plain English, answered in minutes, with every number traceable to its formula and source data.