How to Automate Bank Reconciliation using Power Query in Excel

Bank Reconciliation is still a highly manual process in the accounting world. In this video, we will cover steps on how to automate our bank reconciliation using Power Query in excel.

In this video, we will learn how to automate bank reconciliation by creating a template to run our reports. For subsequent months, we would only need to change the source data and click refresh to update the bank recon. And we are done!

I know we do reconcile not only a single bank account but many bank accounts. We can imagine how much time we can save just by using Power Query to automate this process.

The solution is not a one-size-fits-all because we all book transactions differently. But bank transactions is somewhat consistent in recording our transactions.

The ideas presented here will help you jumpstart your process automation just by using the user interface inside Power Query.

To follow along, you can access the files used in this video in the link below.

[MA]

I really appreciate your efforts to help us learn. Although the content is clear and understandable, the shift in language during the video makes it challenging for us to grasp the concepts. My humble request is if you could remake this tutorial with English commentary only. I'm looking forward to read from you soon. Thanks

[teddyalens]

Thank you for sharing what you have. Greatly appreciated.

[vicnonato]

Thank you very much for your effort. I learned a lot in your tutorial. I am trying to figure out how to handle the previous reconciling items. In your examples, the reconciling items in January 2022 are not considered in February 2022. Like Check#1-3 that cleared in January 2022 also cleared in February 2022. It would be great if you create a tutorial that considers previous reconciling items.

[adonisuhailamustafa]

Thank you so much for your step by step video...really help me a lot. I'm new to PQ...your explanation just on spot even though i don't know tagalog😅...tqtq❤❤❤

[bhumikachaudhari]

Hello! The way we do the the bank reconciliation is a little different it my work place but I wish to automate it. Could you perhaps help me through a zoom call? Let me know. Thank you!

[Scribner.D]

The prob on this is hindi lahat ng transaction sa bank ay same figure ng book so maraming unmatch na amount especially in a retail store company. If there's a way that would be awesome and i would appreciate if you can show it to me. 🥰