XBert Type: Standard
Accounting Software: Xero, MYOB, QuickBooks
Country Restriction: All regions
Risk Type: Bookkeeping Risk
Business Function: Banking
Overview
The "Unreconciled transactions last month" XBert highlights unreconciled bank statement items from the prior calendar month. These outstanding transactions can impact financial reporting, tax preparation, and the accuracy of business insights.
What it does
XBert scans all bank accounts and identifies:
Transactions dated in the previous calendar month
Transactions that remain unreconciled
Active accounts relevant to XBert analysis
It then totals both the number of unreconciled items and their combined value, giving you a clear indication of reconciliation delays.
How it works
XBert reviews all active bank accounts and extracts any transactions that:
Occurred in the previous calendar month
Have not been reconciled
It aggregates the total value and count of these transactions and raises an alert if any remain outstanding. This enables you to take timely action before inaccurate reporting or missed tax obligations arise.
Example/Use Case
Billy expects a tax refund of $1,200 for the last quarter based on his draft BAS report. However, he later realises that several bank transactions from the prior month were not reconciled. After completing the reconciliation, it turns out he owes $900 instead. Early identification of unreconciled items would have helped Billy plan better and avoid an unexpected tax bill.
Accounting software
Xero, MYOB, QuickBooks
Which countries it supports
All regions.
Processes
This XBert falls under the Bookkeeping Services – Banking category.
Reconciling transactions regularly ensures clean and accurate financial data, helping you avoid reporting discrepancies, tax errors, and delays in decision-making.