Bookkeeping and payroll for small businesses across central Virginia.

Call / Text: (866) 478-7426

Why do my bank statements never match my books?

The most common reason is timing. When you write a check on Tuesday but the recipient doesn’t deposit it until the following week, your books show the expense but your bank doesn’t yet. Same thing with deposits in transit. You recorded the revenue when you made the sale, but the bank doesn’t reflect it until the funds actually clear. These timing differences are normal and will resolve themselves once you properly reconcile.

Missing transactions are the second most common cause. Bank fees, automatic payments, subscription charges, interest credits. Your bank processed them automatically but nobody entered them in your accounting software. A $12 monthly fee doesn’t seem like much until you have six of them across different accounts and suddenly you’re $72 off with no obvious explanation.

Data entry errors cause more problems than most people realize. Transposed numbers are the classic example. You enter $524 when the actual charge was $542. The difference is $18 and you’ll spend an hour looking for an $18 error that doesn’t exist as a single transaction. Wrong amounts, wrong dates, expenses hitting the wrong account. Any mistake in data entry creates a mismatch.

Duplicate entries happen when the same transaction gets recorded twice. This often occurs when you’re entering transactions manually and also have bank feeds importing automatically. QuickBooks and similar software don’t always catch that the check you entered and the check that came through the feed are the same item. Now your books show you paid that vendor twice when you only paid once.

Personal transactions mixed into a business account will throw off your numbers too. If you’re using the same card for both personal and business purchases, those personal items need to be categorized correctly as owner’s draws, not business expenses. Otherwise your expense categories don’t match what the bank actually shows for business costs.

The longer you go without reconciling, the harder it gets to figure out what went wrong. If you reconcile weekly or at least monthly through proper monthly bookkeeping, you catch errors while you still remember what the charges were. Wait six months and you’re trying to remember what that $247 payment was for and why it doesn’t match anything in your records.

When everything is working correctly, your books and bank should match every single month. If they don’t, something in the process is breaking down. A Tri-Cities bookkeeper can usually identify the pattern pretty quickly once they look at your records. Often it’s the same type of error happening repeatedly.

Greater Richmond's Small Business Bookkeeper

The Next Step:
A Short Conversation

Fifteen minutes to tell us what you're dealing with. We'll let you know how we can help and give you a clear price quote.

More Questions

What's the difference between QuickBooks Simple Start, Essentials, and Plus?

The main differences are user limits, bill management, and inventory or project tracking. Most small businesses need Essentials or Plus. Simple Start works for freelancers but runs out of room fast.

Read answer

How often should I update my books?

Weekly is the standard for most small businesses. Monthly is the minimum. Going longer than a month means losing context on transactions and letting errors compound.

Read answer

How do I know if my books are a mess?

There are clear warning signs: bank accounts that don't reconcile, surprise tax bills, financial statements that don't match reality, and transactions piling up uncategorized. If you're avoiding your books, that's usually confirmation enough.

Read answer

Should I use cash basis or accrual accounting for my business?

Most small businesses do fine with cash basis because it's simpler and matches what you see in your bank account. Accrual makes more sense when you need an accurate picture of profitability across longer billing cycles or carry significant inventory.

Read answer

I haven't done any bookkeeping since I started my business. Is it too late?

No, it's not too late. Bank and credit card statements can be used to reconstruct your records even if you never tracked anything. The longer you wait, the harder it gets, but catching up is almost always possible.

Read answer

How do I track tip income and tip-outs for my restaurant?

Track tips daily using your POS system or a written tip log, record all tip-outs to support staff, and run tips through payroll since they're taxable wages. Both credit card and cash tips need documentation.

Read answer

Virginia bookkeeping firm focused on small businesses. Bookkeeping, payroll, and fractional CFO services from a local Richmond team. A decade of working with businesses like yours. QuickBooks ProAdvisor certified.

Client Reviews

5-Star Rated Firm

Social

  • Intuit ProAdvisor Gold tier certification badge
  • Intuit Certified QuickBooks Level 1 ProAdvisor badge
  • Intuit Certified QuickBooks Level 2 ProAdvisor badge
  • Intuit Certified QuickBooks Payroll ProAdvisor badge

© 2026 Tri-County Bookkeeping LLC