Free Excel Cash Reconciliation tool

A simple bank reconciliation tool for a small business.

Monthly bank account reconciliation process involves taking the bank statement and comparing it against the accounting system or the book ledger at the end of the month.  Often times, the balance shown on the bank accounts is not the same as the one shown in the book.  The primary reason for the discrepancy should be due to timing.  The timing on when the checks are recorded versus deposited (Deposit in transit), as well as the timing on the checks issued not deposited by the recipient (Outstanding Checks).

The free download for today is a tool where one can record the bank activities in the PRIMARY tab for all of the incoming and outgoing transactions.  And further, being able to easily reconcile the bank account v. the ledger (PRIMARY tab) on the monthly basis.

To reconcile, simply go to RECON tab, and insert the following:

  1. Bank Account Balance per bank statement
  2. List of Outstanding Checks
  3. List of Deposits in Transit

As soon as these 3 things above are inputted, the VARIANCE cell should show zero.  If it’s not Zero, that means something must have been missed.


This simple and easy to use bank account reconciliation tool can easily customized to your specific need.  Multiple bank accounts can be added, more automation can be created.  Please contact me  at for further customization.

Definitions references:

deposit in transit is cash (currency, coins, checks, electronic transfers) that a company has received and is rightfully reported as Cash on its balance sheet, but does not appear on the bank statement until a later date.

An outstanding check is a check that has been written by a company (and deducted from the appropriate general ledger cash account) but it has not yet cleared the bank account on which it is drawn.

Scoreboard: The tool every CEO need

Scoreboard is a one page executive report to help the Chief Executive Officer and President of the company to identify the areas of weakness and areas of strength within the organization.  It is a tool, a high level report with charts and graphics of the various aspects of the company.

What are the typical components of a Scoreboard:

  • Executive summary
  • Top 10 Credit Holds
  • Top 10 Unconfirmed sales
  • Top 10 Late Inventory styles
  • Gross Profit Thermometer
  • Revenue and Margin Outlook for the next few months
  • Distribution Center performance
  • Order book status