How pros do catch-up: statement, import file, tie-out

Experienced bookkeepers catching up months of bank activity tend to follow the same order. The point is to prove each month's numbers before they reach the ledger, not after.

1. Start from the statement, not the bank feed

The statement is the bank's official record for the period, with a stated opening and closing balance. Bank feeds can miss, duplicate or re-date transactions, especially for older months. Collect one statement per account per month and note any gaps. Our missing statements guide covers how to get them. If a bank feed is connected, it only reaches back so far; see how to fill the gap before the feed.

2. Turn it into an import file

Convert each statement-month into the format your ledger accepts: QBO (Web Connect) for QuickBooks, a CSV in the layout Xero expects, or a plain CSV. Keep one file per account per month so a problem stays contained. See QBO vs CSV vs Xero formats.

3. Tie out before you import

Check that opening balance + net activity = stated closing balance, and that the running balance holds row by row. If the difference is not zero, find the row where it breaks before posting anything. Also check that each closing balance equals the next month's opening balance; a break means a missing page or month. See checking a statement is complete before import. A file that ties is far less likely to leave you with a reconciliation that won't balance later (see beginning balance off).

What a tie-out sheet shows

Every LedgerReady delivery includes one. Here is the sample's result (synthetic data):

Download the sample tie-out sheet. Doing it yourself? Our free tie-out checker runs in your browser.

A tie-out proves the file matches the statement. It is not an audit, and categories still need your review.