XBert Type: Standard
Accounting Software: Xero, MYOB, QuickBooks Online
Country Restriction: All supported countries
Risk Type: Data Quality Risk
Business Function: Banking
Overview
The "Unreconciled transactions last month" XBert flags bank statement transactions from last month that have not been reconciled yet. Leaving them unreconciled can throw out your financial reports, hold up your tax preparation and make your business numbers less reliable.
What it does
XBert checks each of your active bank accounts for bank statement transactions that are still waiting to be reconciled. For every account with outstanding items, it counts how many transactions are unreconciled and adds up their total value, so you can see exactly where the gaps are.
How it works
XBert raises this alert for an active bank account when one or more of its bank statement transactions, dated in the previous calendar month, are still marked as unreconciled. For each affected account it reports the number of unreconciled transactions and their total value.
To keep the alert accurate, XBert ignores:
Bank accounts that are inactive, or that you have chosen to leave out of XBert alerts.
Transactions that have already been reconciled.
Transactions dated outside the previous calendar month.
Statement lines that have since been removed or voided. XBert checks each transaction against your most recent bank feed sync, so a line that no longer exists is not counted. This means you are only alerted about transactions that are genuinely still outstanding.
Example/Use Case
Priya runs a small cafe and expects a GST refund of $1,200 from her draft activity statement. A few days later, XBert flags eight unreconciled transactions from last month on her trading account, worth $3,400 in total. Once Priya reconciles them, she finds two supplier payments were never recorded, so she actually owes $900 rather than getting a refund. Catching the unreconciled items early let her plan for the payment instead of facing a surprise bill.
Accounting software
Xero, MYOB and QuickBooks Online.
Which countries it supports
All supported countries.
Processes
This XBert falls under the Bookkeeping Services – Banking category. To resolve it:
Open the affected bank account and review the unreconciled transactions from last month.
Match each bank statement line to the right invoice, bill, payment or transfer in your accounting software.
If a transaction has no matching record, create the missing entry (for example a spend or receive transaction) so it can be reconciled.
Check anything that looks like a duplicate or does not belong, and correct or remove it at the source.
Reconcile the account so the balance in your software matches your bank statement.
Once the transactions are reconciled, mark the XBert as resolved.