Account reconciliation ensures that the transactions you enter into your Wave account match what happened in the real world. Have your bank statement ready before you begin, as you’ll compare the transactions to those in Wave.
If you haven’t connected a bank account or uploaded a statement, add your transactions to Wave before you start.
Create a reconciliation period
- In the left navigation menu, head to Accounting > Reconciliation.
- Find the account you want to reconcile. Click Get Started.
- Select the final date of the period you want to reconcile, and enter your bank balance as of this date.
- Click Save.
If the bank balance and the Wave balance are the same, the account is reconciled. If the balances are not the same, Wave will generate a page with all of the transactions in the period, so you can fix them.
Review your transactions
If the bank account balance and the Wave balance match, you only need to review your transactions against your bank statement. This ensures they are all accurately recorded.
To review your transactions, click View reconciled transactions. Then, to mark a transaction as Matched, select the check-mark to the right of it.
As you match transactions, the progress bar at the top of the page moves. This indicates how many transactions in a period you have matched with a transaction on your bank statement, and how many are left.
Your Wave balance always equals the total of all transactions in the account, whether you have matched them or not. 
Fix your transactions
If the bank account balance and the Wave balance don’t match for any periods you've entered for an account, you’ll need to review and edit the transactions within each unreconciled period.
Wave highlights and adds a red Needs Attention indicator on the timeline of any unreconciled accounts. Wave also displays them at the top of the list of accounts within a financial institution. 
Click Fix to review transactions within the oldest unreconciled period. You can also click on the warning icon for a specific period to view only the transactions within that period.
To fix the period:
- If there are missing transactions, add them by clicking Add Transaction.
- If a transaction needs to be modified, click on the transaction to edit it.
- To merge duplicate transactions, select the checkboxes on the left-hand side of the transactions, then click Merge.
- To remove transactions, select the checkboxes to the left of them, then click Delete.
Fix a reconciled period that you have added additional transactions to
If you have a reconciled period, and then add a transaction to that period, the account will be highlighted in red, with the Needs Attention indicator. Click Fix to re-reconcile the account. 
To reconcile the period:
- If the transaction is correct, edit the Statement balance to match.
- If any transactions are incorrect, edit or delete them as required.
Frequently asked questions
How do I reconcile smaller groups of transactions?
If you’re entering a reconciliation balance for the first time, Wave will automatically include all transactions into a single period. To reconcile smaller periods, like individual months, you can input more periods for an account.
To do so, click the drop-down arrow to the right of the timeline, to expand the timeline view for an account, and click Add Period. 
Can I match in transactions in bulk?
No, there isn’t a bulk-match feature.
How can I delete a period that I added by mistake, or that I no longer need?
Click on the icon for the period from the timeline view. On the transactions view, click the pencil icon next to the statement ending balance. In the pop-up box, click the trash can icon.
Can I reconcile my Cash on Hand account?
Yes, however the Cash on Hand account is used for recording cash on its way to being deposited. It isn't generally used as the final account for income. Learn about best practices for using Cash on Hand, and how to set up and reconcile a petty cash account in Keeping track of petty cash.