Multi-account reconciliation

Overview

AccBooks handles reconciliation across as many bank accounts as your business needs — current accounts, savings, credit cards, currency accounts and intercompany accounts all appear in a single unified queue.

The unified reconciliation queue

All unreconciled transactions from all connected accounts appear in one queue at Reconciliation. Use the account filter in the top-left to focus on a single account, or leave it set to All accounts to see everything.

The account selector shows each account’s current balance and the number of unreconciled items, giving you a quick health check at a glance.

Filtering by account

To work through accounts one at a time:

1. Click the account dropdown in the reconciliation view.
2. Select a specific account.
3. The queue filters to show only transactions from that account.
4. Once cleared, switch to the next account.

Multi-currency accounts

If you hold accounts in foreign currencies (USD, EUR, etc.), AccBooks shows the transaction in both the original currency and GBP (using the exchange rate on the transaction date).

Exchange rates are sourced from the ECB (for EUR) and the Bank of England (for other currencies) and updated daily. If you need to use a specific rate for a transaction (e.g., a contracted hedging rate), click the exchange rate in the transaction detail to override it.

Foreign currency transactions are posted to the ledger in GBP. AccBooks automatically calculates and posts any realised exchange gain or loss when a foreign currency invoice is settled.

Reconciling intercompany transactions

If your business has multiple entities (e.g., a holding company and a trading subsidiary), you can link them in AccBooks and mark intercompany transfers:

1. Open the transaction.
2. Click Intercompany transfer.
3. Select the related entity.
4. AccBooks creates the matching entry in the other entity’s ledger automatically.

Intercompany transactions are excluded from consolidated P&L reports to prevent double-counting.

Reconciliation by period

At the end of each month (or quarter), run a period reconciliation to verify that AccBooks balances match your bank statements:

1. Go to Reports → Bank reconciliation statement.
2. Select the account and the period-end date.
3. AccBooks generates a report showing:
   • Opening balance per bank statement
   • Transactions in the period
   • Closing balance per bank statement
   • Closing balance per AccBooks ledger
   • Any unexplained difference

A clean reconciliation shows a zero difference. Investigate any discrepancy before locking the period.

Period locks

Once a period is reconciled and you’re satisfied, lock it to prevent accidental changes. Go to Settings → Period locks and set the lock date. Transactions dated on or before the lock date cannot be edited or deleted without removing the lock first.

Tips for multi-account businesses

• Assign one team member to each account for accountability.
• Reconcile weekly rather than monthly to keep unmatched transaction numbers manageable.
• Use bank account groups under Settings to organise accounts by entity or currency for cleaner reporting.