Bank reconciliation in Sage Sole Trader

Sage Sole Trader doesn't use a traditional bank reconciliation process. Instead, you review, Categorise, and complete bank transactions to keep your records accurate.

How bank reconciliation usually works

Bank reconciliation compares your bank statement against recorded transactions to confirm they match.

This process often involves reconciling to a statement date and balance.

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How reconciliation works in Sage Sole Trader

Sage Sole Trader uses a different approach that suits sole-traders.

You reconcile your bank activity by reviewing transactions as they arrive, categorising them, and saving them as Completed.

Once completed, the transaction forms part of your records and reports.

There’s no separate reconciliation screen or statement balance to match.

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What Draft and Completed mean

• Draft transactions need your review and category
• Completed transactions are transactions that you've categorised and saved

Moving transactions from Draft to Completed is how you confirm they’re correct.

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Use filters to check your records

You can use filters to review your activity and spot anything missing or duplicated.

For example, you can filter by date, status, or bank account to check a period quickly.

This helps you stay confident that you've reviewed everything.

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Why there’s no traditional bank reconciliation

Sage Sole Trader helps you keep records up to date as you review transactions, instead of matching them to a statement later.

By reviewing transactions as they come in, you avoid needing a separate reconciliation step later.

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If you’re used to bank reconciliation

Once you regularly review Draft transactions, you achieve the same outcome without a reconciliation process.