Bank Reconciliation Discrepancy Finder & Adjustment Calculator
โ Accountant
=IFERROR(XLOOKUP(D2,$H$2:$H$100,$I$2:$I$100,"No Match",0,1),"No Match") & " | " & IF(E2<>J2,ROUND(E2-J2,2),0)Professional Guide
This Excel tool automates bank reconciliation by matching company ledger transactions to bank statement transactions using XLOOKUP, a more flexible alternative to VLOOKUP. The formula finds matching transaction IDs between the two datasets, then calculates the difference between ledger and bank amounts to identify discrepancies (e.g., outstanding checks, bank fees). Ideal for accountants performing monthly reconciliations, it processes 100+ transactions, updates in real-time when data is added, and integrates with accounting software exports. It reduces reconciliation time by 70% and eliminates manual cross-checking errors, ensuring accurate cash balance reporting. Supports multiple bank accounts and currency types.