Bank Reconciliation
Reading time: 10 minutes
Import a bank statement, let Atlas's AI match transactions, and reconcile your account. By the end of this tutorial your bank balance will match your book balance with every transaction accounted for.
Prerequisites
- An Atlas account with Bookkeeper role or above
- A bank account added in Atlas (Settings > Bank Accounts)
- A bank statement file (CSV, OFX, QFX, or QIF format)
Step 1: Import Your Bank Statement
- Navigate to Banking > Bank Accounts
- Select the account you want to reconcile
- Click Import Statement
- Choose your file format:
| Format | Description |
|---|
| CSV | Comma-separated values — most universal |
| OFX | Open Financial Exchange — exported from most banks |
| QFX | Quicken Financial Exchange — Quicken-compatible |
| QIF | Quicken Interchange Format — legacy format |
- Upload your file and click Import
- Atlas parses the statement and shows a summary — review the date range, transaction count, and opening/closing balances
Step 2: AI Auto-Matching
After import, Atlas's AI engine analyzes each transaction:
- High confidence (90%+) — matched automatically to existing invoices, bills, or prior categorization rules
- Medium confidence (60-89%) — suggested match with a prompt for your review
- Low confidence (<60%) — requires manual categorization
The AI learns from your corrections over time. The more you reconcile, the better it gets.
Review Suggested Matches
- Go to the For Review tab
- Each transaction shows:
- Bank description and amount
- AI-suggested account and match
- Confidence score
- For each suggestion:
- Accept — confirms the match
- Edit — change the account, payee, or split the transaction
- Create Rule — save this categorization for future transactions
Step 3: Manual Categorization
For unmatched transactions:
- Click on the transaction
- Select the appropriate account from the Chart of Accounts dropdown
- Add a payee name if not auto-detected
- Optionally attach a receipt or document
- Click Categorize
Splitting Transactions
If a single bank transaction covers multiple categories:
- Click Split on the transaction
- Add lines with different accounts and amounts
- The total must equal the original transaction amount
- Click Save Split
Step 4: Reconcile
Once all transactions are categorized:
- Click Reconcile at the top of the bank account page
- Enter the statement ending balance from your bank
- Atlas shows:
- Book balance — your records in Atlas
- Statement balance — what the bank reports
- Difference — should be $0.00 when fully reconciled
- Check off each transaction that appears on your statement
- When the difference is zero, click Complete Reconciliation
Important: If there is a discrepancy, do not force the reconciliation. Check for:
- Missing transactions not yet imported
- Bank fees or interest not recorded
- Pending transfers between accounts
- Duplicate entries
Step 5: Review the Results
After reconciliation:
- The bank account shows a Reconciled badge with the statement date
- Reconciled transactions are locked — they cannot be edited without un-reconciling first
- The Bank Reconciliation Report shows a summary of the reconciliation
Navigate to Reports > Bank Reconciliation to view the history of all reconciliations.
Creating Categorization Rules
To speed up future reconciliations:
- Go to Banking > Rules
- Click New Rule
- Define conditions:
- Description contains — match bank description text
- Amount range — match by amount
- Transaction type — debit or credit
- Set the action:
- Assign an account
- Set a payee
- Auto-approve (skip review for high-confidence matches)
- Click Save Rule
Rules are applied automatically on future imports.
Troubleshooting
| Issue | Solution |
|---|
| Import fails | Check file format — Atlas supports CSV, OFX, QFX, QIF |
| Duplicate transactions | Atlas detects duplicates by date + amount + description |
| Balance does not match | Look for un-categorized items or bank fees |
| AI suggestions are wrong | Correct them and the AI will learn from your feedback |
What's Next
Now that your first reconciliation is complete, try:
- Setting up categorization rules for recurring transactions
- Connecting additional bank accounts for a complete picture
- Running the Month-End Close to lock the reconciled period