Overview

The LedgerSync Bank Reconciliation tool is designed for situations where LedgerSync cannot access a bank statement directly. Rather than leaving you without a closing balance, the tool uses bank transactions to calculate a running balance — recreating the same view you'd see on a bank's website, where the last transaction of the closing period equals the ending balance.

What makes this tool uniquely powerful is its dual connectivity: LedgerSync pulls transactions from two independent data aggregators — Mastercard and MX — and compares them side by side. The likelihood of a single transaction being missed by both providers on the same day is extremely low, which means the data you're working with is highly reliable.

How to Access

Go to Tools → LS Bank Reconciliation from the top navigation menu.

Select your client, bank account, and date range to get started.

The Three Tabs

1. Running Balance

This tab displays transactions in chronological order with a calculated running balance — identical to how a bank's online transaction page looks. For any closing period, the last transaction on or before the closing date is your ending balance.

This is especially useful when a bank statement is unavailable (e.g., Capital One) and you need to establish a month-end balance for reconciliation purposes.

The page header shows a summary of your reconciliation health:

• Grade — Overall confidence rating (e.g., B = Mostly Verified)
• Total Transactions — All transactions in the selected window
• Matched — Transactions confirmed by both Mastercard and MX
• Mastercard Only / MX Only — Transactions appearing in only one feed
• Pending Confirmation — Transactions not yet validated
  

2. Feed Comparison

This tab shows a line-by-line comparison of Mastercard transactions against MX transactions for the same account and date range. Matching transactions are labeled Matched in green, making it easy to spot discrepancies between the two data providers.

If a transaction appears in one feed but not the other, it surfaces here — giving you a clear view of any potential gaps before they become a reconciliation problem.

3. Reverse-Balance Validation

This tab works in reverse: instead of calculating forward from transactions, you input a known balance on a specific date and LedgerSync calculates forward from that point to today.

How to use it:

1. Enter a known balance amount in the Known Balance field
2. Select the As Of Date (e.g., May 31, 2025)
3. Choose Start of Day or End of Day for balance timing
4. Click Validate

Interpreting the result:

• GREEN / FRESH — The computed balance matches the current live balance. No transactions are missing.
• Other statuses — A mismatch indicates one or more transactions may be absent from the feed between the as-of date and today.

The summary below the verdict shows the transaction count, computed balance, current balance, credits, and debits for the validation window.

Why Dual Connectivity Matters

By pulling data from both Mastercard and MX independently, LedgerSync creates a built-in cross-check. Two separate aggregators reaching the same result significantly reduces the risk of missing or incorrect transaction data. This is the core reliability mechanism behind the Bank Reconciliation tool.

Tips

• For banks where statements aren't available (e.g., Capital One), use the Running Balance tab to establish your closing balance.
• The Feed Comparison tab is your best view for identifying which provider is missing a transaction, if any.
• Reverse-Balance Validation is ideal for periodic spot-checks — plug in any prior statement ending balance and confirm nothing has been lost since.

Related Articles

• Article 21/45: What is the Running Balance Report
• Article 47/62: Best Practices to Fetch Capital One Bank Statements
• Article 38: How to Add a Bank Feed Connection in LedgerSync
• Article 57: What Bank Connection to Choose

Need Help?

Contact our support team at support@ledgersync.com or visit our Help Center for additional resources.