The Reconciliation page is only available on the web version of Wave.
A reconciliation period may become unreconciled if a transaction is edited or merged, or if a payment is edited. If you make changes to a transaction, invoice, or estimate, a pop-up will notify you if it affects a reconciled period.
Reconciliation periods with discrepancies are highlighted in red. A red banner above the reconciled periods shows the difference between the ending balance and starting balance of the two most recent periods.
To fix the unreconciled period:
- In the red banner, click Fix it.
- Compare your transactions in Wave with your bank statement for the same time period.
To resolve common discrepancies:
- Missing transactions: Click Add Transaction at the top of the page.
- Incorrect transactions: Click on the transaction to edit the information.
- Duplicate transactions: Select the checkboxes to the left of the duplicate transactions. At the top of the transactions list, click the merge icon.
- Incorrect statement balance: Click the pencil icon beside the Closing balance amount. Enter the correct closing balance and click Save.
- Pending transactions: If a transaction is in a reconciliation period but not on your bank statement, Wave may be using the transaction date instead of the posting date. Click End reconciliation, then Reconcile period anyway. You will match this transaction in the next reconciliation period.
- Extra transactions: If you created a transaction by mistake, click the checkbox to the left of the transaction, then click the trash can icon to delete it.