Bank & Credit Card Reconciliation for Canadian businesses
Reconciliation is the check that makes your numbers real: every bank and credit-card account matched to the statement, to the cent, so nothing is missing, duplicated, or quietly wrong. And if a past bookkeeper "force-balanced" your file to look reconciled, we find it and fix it.
What reconciliation actually catches.
Recording transactions gets them into the books. Reconciliation proves they're right — matching every account to the bank and credit-card statement, line by line. It's the control that surfaces what recording alone misses.
Duplicate & missing entries
The same charge booked twice, or a payment that never made it in — the two commonest ways a balance drifts from reality.
Unauthorized charges & fraud
The transaction you never approved. Reconciliation is the routine control that surfaces it, especially on credit cards.
Bank fees & interest not booked
Service charges, card interest, and NSF fees that hit the statement but never got recorded.
Bounced & reversed payments
NSF returns, chargebacks, and reversed payouts that quietly undo income you thought you had.
Timing items
Uncleared cheques and deposits in transit — recorded in your books but not yet on the statement. Real, but tracked, not guessed.
Processor payouts
Stripe, Shopify, and PayPal deposits arrive net of fees. We match each payout to the books and the bank so ecommerce sales tie out.
This isn't paranoia: the ACFE's 2024 study found small organizations lose a median of US$141,000 to fraud, undetected for a median of 12 months — and reconciliation is the everyday control that catches the cash- and card-level schemes behind most of it. Clean books also keep your GST/HST accurate and your records CRA-ready for six years.
"Reconciled" doesn't always mean right.
Here's the one most bookkeepers won't tell you: a QuickBooks file can say "reconciled" and still be wrong.
When an account won't balance, QuickBooks offers to post a reconciliation adjustment so you can finish anyway. It makes the report say "reconciled" — but it fixes nothing. Intuit's own guidance is blunt: adjustments "don't fix errors, and if you fix the errors later on, an adjustment causes problems down the road."
That one shortcut throws the beginning balance off, and the error cascades into every period after it. The file looks done. The numbers aren't.
We fix it properly: find the phantom adjustments, undo the reconciliations back to the last period that was truly correct, track down the real cause — a duplicate, a deleted transaction, a mis-keyed amount — correct it, then re-reconcile period by period until the balances tie on their own, with no plug.
You work directly with Anam Gul, Profitick's principal — the person actually going line by line through your file, not a queue that force-balances it to hit a deadline.
Signs your file was force-balanced
- A "Reconciliation Discrepancies" account or adjustment entry
- A beginning balance that won't match the statement
- Books that say reconciled but still feel wrong
- Balances that drift further off every month
- A prior bookkeeper who "finished" suspiciously fast
How we reconcile your accounts.
Matched, not force-balanced
Connect & gather
We work in your own QuickBooks Online or Xero and pull each bank, credit-card, and loan statement for the period.
Match, line by line
Every statement transaction is matched to your books — not force-balanced. What's missing gets entered; what's duplicated gets removed.
Investigate discrepancies
Anything that doesn't tie, we chase down to the cause — timing, fees, fraud, a deleted entry — and correct it, rather than plugging the difference.
Reconcile & report
Each account is reconciled to the cent, with a short note on anything we found and fixed.
Every month, on time
Then it's a monthly rhythm, so your books stay true and year-end is a handoff, not a scramble.
Included, or a one-time fix.
Reconciliation isn't a separate product you should have to buy on top of bookkeeping — it's the core of doing it right. So for ongoing clients, every bank and credit-card account is reconciled every month as part of your flat monthly fee.
Behind, or inherited a force-balanced mess? We'll fix it as a one-time reconciliation clean-up, quoted as a fixed project after a free look at your file — then roll you onto monthly so it never drifts again.
Reconciliation is part of every monthly bookkeeping plan — see the pricing page for flat fees. Months or years behind on everything, not just reconciliations? Start with catch-up bookkeeping.
Reconciliation, answered.
What is bank reconciliation?
How often should my accounts be reconciled?
My QuickBooks says reconciled — can it still be wrong?
Do you reconcile credit cards and processor payouts too?
What if I am months or years behind on reconciliations?
Is reconciliation included in your bookkeeping, or extra?
Can you reconcile inside my own QuickBooks or Xero?
Where is Profitick based?
Books that actually tie out.
Get a free quote, or a free look at a file you're not sure about — reconciled to the cent, or fixed if it isn't.
Get a free quote