02 / Reconciliations
Know what is behind the balance.
A bank balance and an accounting balance can both look reasonable and still disagree. I work through the differences so your board can see which items are timing differences, which need correction and which require follow-up.
Work directly with Keith Knight · Professional accounting for self-managed HOAs
Does this sound familiar?
When volunteer time meets accounting complexity.
The balance in the books should be supported by the bank statement. Reconciliation compares recorded transactions with actual account activity, helping identify missing entries, duplicate transactions, outstanding checks and timing differences before they carry into the next reporting period.
- 01
The bank statement and QuickBooks show different amounts.
- 02
Old outstanding checks or duplicate entries carry forward without explanation.
- 03
Transfers between operating and reserve accounts are difficult to trace.
How I can help your HOA
A practical plan, with clear responsibilities.
- 1
Compare the records
Match statement activity to recorded transactions for the agreed accounts and periods.
- 2
Resolve differences carefully
Identify missing or duplicate entries and research unusual items with the board.
- 3
Document what remains
Retain a reconciliation record and clearly identify any outstanding items or needed information.
A traceable balance
Bring the records together
An illustrative situation
From a familiar problem to a clearer next step.
The board wants to approve a project, but the reported cash does not match the statement. A reconciliation identifies an outstanding payment, a duplicate entry and a transfer still needing documentation. The board receives the reconciled position and a list of unresolved items rather than an unexplained difference.
What the work can include
Support your board can put to use.
- Reconcile bank accounts and review differences.
- Follow up on unusual or unmatched transactions.
- Maintain records that explain outstanding items.
Bring the questions. We’ll agree on the records.
For the first conversation, it helps to know what is available:
- Statements for the accounts to be reconciled.
- The latest reconciliation reports, if available.
- Details about transfers, older checks and known discrepancies.
Start with a description of your situation. Please keep confidential homeowner and banking records out of the public consultation form; secure access can be arranged later.
Your point of contact
Let’s talk about what would help your board.
Too much for volunteers.Too small for full management.
Request a consultationEmail Keith