How to Reconcile Bank Transactions in Excel

1. Prepare the source and scope

Import transactions.csv into a new worksheet with headers in row 1. Leave the source columns in their original order for the formulas below. Review the data dictionary before choosing the reporting period. Keep identifiers as text and convert numeric columns explicitly. Save a working copy so you can return to the original fixture.

2. Build the calculation

Compare amount and ledger_amount for each transaction ID. Enter =E2-F2 in I2 and fill down. Filter nonzero differences, then sum them.

=SUM(E2:E13)-SUM(F2:F13)

3. Reconcile and interpret the output

The expected check is bank minus ledger difference: -55 USD. The two missing bank fees explain the negative difference. Correct the ledger only after checking the source entries. If your result differs, inspect the selected rows, data types and date filters before changing the formula.

4. Adapt the workflow to a recurring report

Replace the sample with a copy of your own source, retaining the same column meanings and units. Extend bounded ranges to include new rows, refresh PivotTables where used, and compare the result to an independent source total. Record the reporting period and any exclusions beside the output. Match by ID rather than row position when comparing independently sorted files.